SeaBridge Investment Advisors LLC Purchases Shares of 5,549 Quanta Services, Inc. (NYSE:PWR)

SeaBridge Investment Advisors LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,549 shares of the construction company’s stock, valued at approximately $1,754,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the 3rd quarter worth about $30,000. Sound Income Strategies LLC raised its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of several recent analyst reports. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Stock Performance

Shares of PWR stock opened at $308.10 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a 50-day moving average of $328.59 and a 200-day moving average of $301.01. Quanta Services, Inc. has a one year low of $193.52 and a one year high of $365.88. The company has a market cap of $45.48 billion, a P/E ratio of 56.85, a P/E/G ratio of 1.49 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

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.