Advisory Services Network LLC Has $8.65 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Advisory Services Network LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,382 shares of the construction company’s stock after purchasing an additional 8,616 shares during the period. Advisory Services Network LLC’s holdings in Quanta Services were worth $8,654,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its position in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PWR shares. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Finally, BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Seven 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.05.

Quanta Services Price Performance

Shares of NYSE PWR opened at $244.76 on Wednesday. The stock has a fifty day moving average of $270.15 and a 200-day moving average of $303.38. The stock has a market cap of $36.27 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted its earnings results 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 analyst estimates of $6.61 billion. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

About Quanta Services

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.