United Advisor Group LLC Acquires New Position in Quanta Services, Inc. (NYSE:PWR)

United Advisor Group LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 883 shares of the construction company's stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth about $298,000. Geneos Wealth Management Inc. boosted its holdings in Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Quanta Services by 21.6% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 905 shares of the construction company's stock worth $286,000 after purchasing an additional 161 shares in the last quarter. Granite Group Advisors LLC purchased a new stake in Quanta Services in the 4th quarter worth approximately $201,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Quanta Services during the 4th quarter valued at $95,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.2%

NYSE:PWR traded down $0.52 on Thursday, hitting $339.80. The stock had a trading volume of 572,666 shares, compared to its average volume of 1,559,666. The stock has a market cap of $50.38 billion, a price-to-earnings ratio of 56.35, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $293.45 and a two-hundred day moving average price of $303.24.

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

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PWR shares. Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 target price on the stock. The Goldman Sachs Group dropped their target price on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $344.85.

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.