Quanta Services, Inc. (NYSE:PWR) Holdings Boosted by TruWealth Advisors LLC

TruWealth Advisors LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 45,553 shares of the construction company’s stock after acquiring an additional 583 shares during the quarter. TruWealth Advisors LLC’s holdings in Quanta Services were worth $14,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HB Wealth Management LLC boosted its stake in Quanta Services by 0.9% during 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 period. Arkadios Wealth Advisors acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $260,000. Brooklyn Investment Group grew its holdings in Quanta Services by 17.4% in the 4th quarter. Brooklyn Investment Group now owns 492 shares of the construction company’s stock worth $155,000 after buying an additional 73 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $482,000. Finally, Empirical Asset Management LLC boosted its position in Quanta Services by 264.9% during the 4th quarter. Empirical Asset Management LLC now owns 25,046 shares of the construction company’s stock worth $7,916,000 after acquiring an additional 18,183 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PWR shares. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Stifel Nicolaus boosted their target price on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday. Finally, TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Stock Up 0.3 %

PWR stock opened at $337.10 on Friday. The company’s 50 day simple moving average is $329.35 and its 200-day simple moving average is $296.48. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. 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 7.38%.

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.