State of Wyoming Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

State of Wyoming raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 60,150.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,205 shares of the construction company's stock after acquiring an additional 1,203 shares during the period. State of Wyoming's holdings in Quanta Services were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth about $25,000. Webster Bank N. A. lifted its holdings in Quanta Services by 4,050.0% during 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 in the last quarter. Quarry LP purchased a new position in Quanta Services in the 4th quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the fourth quarter worth $27,000. Finally, Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after acquiring an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR traded up $4.59 during trading on Monday, reaching $335.42. The company's stock had a trading volume of 932,410 shares, compared to its average volume of 1,582,542. 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 twelve month low of $227.08 and a twelve month high of $365.88. The business's fifty day moving average price is $289.31 and its 200-day moving average price is $302.67. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 55.63, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the firm posted $1.41 EPS. Quanta Services's quarterly revenue was up 23.9% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PWR shares. Piper Sandler set a $360.00 target price on Quanta Services and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Citigroup lowered their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Six investment 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 stock. According to MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $344.35.

Quanta Services Company 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.