13,051 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by BNC Wealth Management LLC

BNC Wealth Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 13,051 shares of the construction company’s stock, valued at approximately $4,125,000. Quanta Services comprises approximately 1.4% of BNC Wealth Management LLC’s portfolio, making the stock its 26th largest position.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Versant Capital Management Inc lifted its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $41,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $337.10 on Friday. The firm has a market cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average is $329.35 and its two-hundred day moving average is $296.48. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping 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 business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’s revenue was up 15.5% on a year-over-year basis. Research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. 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 research report on Thursday. Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $324.19.

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.