Quanta Services, Inc. (NYSE:PWR) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its position in Quanta Services, Inc. (NYSE:PWR) by 30.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,098 shares of the construction company’s stock after purchasing an additional 2,145 shares during the quarter. Financial Advocates Investment Management’s holdings in Quanta Services were worth $2,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. boosted its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the period. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the 3rd quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth $31,000. Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.5 %

PWR stock opened at $298.50 on Thursday. Quanta Services, Inc. has a fifty-two week low of $200.23 and a fifty-two week high of $365.88. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of 55.07, a PEG ratio of 1.54 and a beta of 1.05. The business’s fifty day moving average price is $325.93 and its two-hundred day moving average price is $302.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Truist Financial decreased their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

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.