Blue Trust Inc. Acquires 573 Shares of Quanta Services, Inc. (NYSE:PWR)

Blue Trust Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 46.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,808 shares of the construction company’s stock after acquiring an additional 573 shares during the period. Blue Trust Inc.’s holdings in Quanta Services were worth $539,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PWR. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Sound Income Strategies LLC grew its stake in 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. Versant Capital Management Inc increased its position in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 3.9 %

NYSE:PWR opened at $309.52 on Friday. 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 firm has a fifty day simple moving average of $329.27 and a 200-day simple moving average of $300.65. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The company has a market capitalization of $45.69 billion, a P/E ratio of 57.11 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current 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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PWR shares. Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. 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. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four 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. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $330.06.

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.