RiverPark Advisors LLC Buys 3,182 Shares of Quanta Services, Inc. (NYSE:PWR)

RiverPark Advisors LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1,720.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,367 shares of the construction company's stock after purchasing an additional 3,182 shares during the period. RiverPark Advisors LLC's holdings in Quanta Services were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in Quanta Services by 85.0% during the 4th 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. Principal Financial Group Inc. boosted its position in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp lifted its position in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after purchasing an additional 1,830 shares during the period. Allstate Corp purchased a new stake in shares of Quanta Services in the 4th quarter worth about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock worth $5,554,000 after purchasing an additional 793 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $0.24 during midday trading on Tuesday, hitting $290.86. The company had a trading volume of 319,408 shares, compared to its average volume of 1,617,015. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a fifty day moving average of $261.84 and a two-hundred day moving average of $300.27.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's payout ratio is 6.63%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research analyst reports. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Piper Sandler initiated coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 target price for the company. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $321.70.

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.