Prevail Innovative Wealth Advisors LLC Buys Shares of 10,934 Quanta Services, Inc. (NYSE:PWR)

Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,934 shares of the construction company’s stock, valued at approximately $3,456,000.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its stake in Quanta Services by 3.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,045 shares of the construction company’s stock valued at $2,512,000 after acquiring an additional 260 shares in the last quarter. Dorsey Wright & Associates increased its holdings in shares of Quanta Services by 4.1% in the fourth quarter. Dorsey Wright & Associates now owns 21,468 shares of the construction company’s stock worth $6,785,000 after purchasing an additional 836 shares during the period. L & S Advisors Inc purchased a new stake in shares of Quanta Services in the fourth quarter worth $2,443,000. Allstate Corp purchased a new position in Quanta Services during the fourth quarter worth about $1,357,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Quanta Services by 0.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 6,214 shares of the construction company’s stock valued at $1,964,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PWR shares. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Performance

Quanta Services stock opened at $254.17 on Friday. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The stock’s 50 day simple moving average is $283.07 and its two-hundred day simple moving average is $304.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $37.67 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is currently 6.63%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.