Tema Etfs LLC Invests $655,000 in Quanta Services, Inc. (NYSE:PWR)

Tema Etfs LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,072 shares of the construction company's stock, valued at approximately $655,000.

Several other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management raised its position in shares of Quanta Services by 10.6% in the fourth quarter. Ritholtz Wealth Management now owns 4,608 shares of the construction company's stock worth $1,456,000 after acquiring an additional 440 shares during the period. Merit Financial Group LLC acquired a new position in Quanta Services in the 4th quarter worth about $482,000. Brooklyn Investment Group boosted its position in Quanta Services by 17.4% during the fourth quarter. Brooklyn Investment Group now owns 492 shares of the construction company's stock worth $155,000 after purchasing an additional 73 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Quanta Services in the fourth quarter valued at approximately $260,000. Finally, HB Wealth Management LLC increased its position 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 buying an additional 31 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. B. Riley increased their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Stifel Nicolaus increased their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, Citigroup lowered their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $344.35.

Quanta Services Trading Down 1.0%

NYSE PWR traded down $3.46 on Wednesday, reaching $341.50. 1,004,900 shares of the company were exchanged, compared to its average volume of 1,586,241. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business's fifty day moving average price is $285.00 and its 200 day moving average price is $302.26. The stock has a market capitalization of $50.63 billion, a P/E ratio of 56.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $5.88 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The company's revenue was up 23.9% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.45%.

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.