Westwood Holdings Group Inc. Invests $2.34 Million in Quanta Services, Inc. (NYSE:PWR)

Westwood Holdings Group Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,392 shares of the construction company's stock, valued at approximately $2,336,000.

Other large investors have also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of Quanta Services during the 4th quarter valued at about $25,000. Quarry LP bought a new stake in shares of Quanta Services during the 4th quarter valued at about $26,000. Webster Bank N. A. lifted its position in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services in the 4th quarter worth approximately $27,000. Finally, Sound Income Strategies LLC lifted its position 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 buying an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. Evercore ISI boosted their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Piper Sandler set a $360.00 target price on Quanta Services and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $344.35.

Quanta Services Trading Up 1.4%

Shares of PWR traded up $4.59 during mid-day trading on Friday, hitting $335.42. 932,410 shares of the company's stock traded hands, compared to its average volume of 1,582,542. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market capitalization of $49.73 billion, a P/E ratio of 55.63, a PEG ratio of 1.41 and a beta of 1.02. The business's 50-day moving average price is $289.31 and its 200-day moving average price is $302.86.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The business's revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

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.