Avestar Capital LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Avestar Capital LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,934 shares of the construction company’s stock after buying an additional 218 shares during the period. Avestar Capital LLC’s holdings in Quanta Services were worth $927,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PWR. One Plus One Wealth Management LLC boosted its holdings in Quanta Services by 16.4% in the fourth quarter. One Plus One Wealth Management LLC now owns 1,386 shares of the construction company’s stock valued at $438,000 after purchasing an additional 195 shares during the period. Gladstone Institutional Advisory LLC raised its position in Quanta Services by 2.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,143 shares of the construction company’s stock valued at $2,574,000 after purchasing an additional 178 shares in the last quarter. Certuity LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at about $346,000. Leavell Investment Management Inc. grew its position in shares of Quanta Services by 11.7% during the fourth quarter. Leavell Investment Management Inc. now owns 13,332 shares of the construction company’s stock worth $4,214,000 after buying an additional 1,400 shares in the last quarter. Finally, New Republic Capital LLC increased its stake in shares of Quanta Services by 4.8% during the fourth quarter. New Republic Capital LLC now owns 746 shares of the construction company’s stock worth $236,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Down 2.5 %

Shares of NYSE:PWR opened at $290.94 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 stock has a market cap of $42.95 billion, a P/E ratio of 53.68, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year high of $365.88. The firm has a fifty day moving average price of $322.55 and a 200 day moving average price of $303.94.

Quanta Services Increases Dividend

The business 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. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 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.