Twin Capital Management Inc. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Twin Capital Management Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,733 shares of the construction company’s stock after buying an additional 231 shares during the quarter. Twin Capital Management Inc.’s holdings in Quanta Services were worth $3,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter valued at $27,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC raised its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 5.0 %

Shares of NYSE:PWR opened at $239.50 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The business has a fifty day moving average of $273.15 and a two-hundred day moving average of $304.43. The stock has a market cap of $35.49 billion, a P/E ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its 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 during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced 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 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, B. Riley restated a “neutral” rating and set a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

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.