Quanta Services, Inc. (NYSE:PWR) Shares Acquired by DigitalBridge Group Inc.

DigitalBridge Group Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 45.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,547 shares of the construction company's stock after purchasing an additional 35,753 shares during the quarter. Quanta Services comprises approximately 2.6% of DigitalBridge Group Inc.'s portfolio, making the stock its 12th biggest position. DigitalBridge Group Inc. owned approximately 0.08% of Quanta Services worth $36,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Geneos Wealth Management Inc. grew its stake in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after buying an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its position in shares of Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its position in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after purchasing an additional 32 shares during the period. Finally, Larson Financial Group LLC grew its position in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock worth $144,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent research reports. The Goldman Sachs Group decreased 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 note on Thursday, April 24th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 target price on the stock. Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research report on Friday. Finally, Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $341.10.

Quanta Services Stock Down 1.5 %

PWR opened at $317.83 on Wednesday. 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 company has a market cap of $47.12 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The business's fifty day moving average is $267.20 and its two-hundred day moving average is $300.36.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors 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 annualized dividend and a dividend yield of 0.13%. Quanta Services's dividend payout ratio is currently 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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