Focus Partners Wealth Buys 7,133 Shares of Quanta Services, Inc. (NYSE:PWR)

Focus Partners Wealth lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,454 shares of the construction company's stock after buying an additional 7,133 shares during the period. Focus Partners Wealth's holdings in Quanta Services were worth $8,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after buying an additional 2,184 shares during the period. Allstate Corp bought a new stake in shares of Quanta Services in the fourth quarter valued at approximately $1,357,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock valued at $5,554,000 after buying an additional 793 shares during the period. SeaBridge Investment Advisors LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at approximately $1,754,000. Finally, Lebenthal Global Advisors LLC boosted its stake in shares of Quanta Services by 10.7% in the fourth quarter. Lebenthal Global Advisors LLC now owns 8,627 shares of the construction company's stock valued at $2,727,000 after buying an additional 832 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen upped their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 target price for the company. Finally, Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Six 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $344.35.

Quanta Services Stock Performance

NYSE PWR opened at $344.56 on Wednesday. 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 stock has a fifty day simple moving average of $275.22 and a 200 day simple moving average of $301.05. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company has a market capitalization of $51.09 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the business posted $1.41 EPS. The business's revenue was up 23.9% compared to the same quarter last year. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given 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 (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.

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