RFG Bristol Wealth Advisors LLC Acquires Shares of 1,970 Quanta Services, Inc. (NYSE:PWR)

RFG Bristol Wealth Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,970 shares of the construction company’s stock, valued at approximately $623,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. State Street Corp boosted its holdings in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC grew its stake in Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after buying an additional 99,416 shares during the last quarter. Norges Bank acquired a new stake in Quanta Services during the fourth quarter worth approximately $544,937,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after acquiring an additional 45,486 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 1.4 %

PWR opened at $257.64 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company’s 50 day moving average price is $279.42 and its two-hundred day moving average price is $304.87. The firm has a market capitalization of $38.18 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services’s payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PWR shares. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Finally, Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.79.

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.