Quanta Services, Inc. (NYSE:PWR) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 700.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104 shares of the construction company’s stock after purchasing an additional 91 shares during the quarter. Sound Income Strategies LLC’s holdings in Quanta Services were worth $33,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter valued at $298,000. Whalen Wealth Management Inc. acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $544,000. Teamwork Financial Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at about $2,961,000. Janney Montgomery Scott LLC raised its holdings in Quanta Services by 1.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 152,531 shares of the construction company’s stock worth $48,208,000 after purchasing an additional 1,645 shares during the period. Finally, Park Place Capital Corp raised its holdings in Quanta Services by 21.4% in the 4th quarter. Park Place Capital Corp now owns 4,456 shares of the construction company’s stock worth $1,408,000 after purchasing an additional 787 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Bank of America started coverage on shares of Quanta Services in a report on Friday. They issued a “buy” rating and a $407.00 price target for the company. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Stock Up 0.8 %

NYSE PWR opened at $357.55 on Friday. The business’s fifty day simple moving average is $332.01 and its 200-day simple moving average is $299.93. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $52.78 billion, a PE ratio of 65.97 and a beta of 1.06. Quanta Services, Inc. has a 52 week low of $193.50 and a 52 week high of $365.88.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 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.