Chancellor Financial Group WB LP Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Chancellor Financial Group WB LP acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 988 shares of the construction company's stock, valued at approximately $312,000.

A number of other large investors have also recently made changes to their positions in PWR. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $25,000. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $27,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $34,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $2.30 during midday trading on Friday, hitting $342.04. 1,655,321 shares of the company's stock traded hands, compared to its average volume of 1,548,252. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The stock has a market capitalization of $50.71 billion, a price-to-earnings ratio of 56.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a fifty day moving average of $295.98 and a 200 day moving average of $303.41.

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

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. B. Riley increased their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $344.85.

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.