Empowered Funds LLC Buys 19,459 Shares of Quanta Services, Inc. (NYSE:PWR)

Empowered Funds LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 726.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,138 shares of the construction company’s stock after buying an additional 19,459 shares during the quarter. Empowered Funds LLC’s holdings in Quanta Services were worth $6,995,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Atomi Financial Group Inc. purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $220,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Quanta Services by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the construction company’s stock worth $238,000 after buying an additional 600 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Quanta Services by 10.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,656 shares of the construction company’s stock worth $792,000 after buying an additional 241 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Quanta Services by 2.5% during the third quarter. Ritholtz Wealth Management now owns 4,168 shares of the construction company’s stock valued at $1,243,000 after buying an additional 100 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Quanta Services by 65.2% in the third quarter. Exchange Traded Concepts LLC now owns 12,427 shares of the construction company’s stock valued at $3,705,000 after acquiring an additional 4,906 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE PWR opened at $310.83 on Tuesday. The stock’s fifty day moving average price is $324.00 and its 200 day moving average price is $303.66. Quanta Services, Inc. has a 1 year low of $205.82 and a 1 year high of $365.88. 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 company has a market cap of $45.88 billion, a price-to-earnings ratio of 57.35, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PWR shares. Northland Securities reissued 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 objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price target on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services 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.