Quanta Services, Inc. (NYSE:PWR) Shares Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,882 shares of the construction company’s stock after buying an additional 422 shares during the period. United Capital Financial Advisors LLC’s holdings in Quanta Services were worth $2,491,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the period. Geode Capital Management LLC raised its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after buying an additional 99,416 shares during the period. Invesco Ltd. lifted its stake in Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth about $544,937,000. Finally, Bank of New York Mellon Corp grew its stake in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after acquiring an additional 45,486 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Truist Financial lowered their target price on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus reduced their price target on Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services Stock Down 0.7 %

PWR opened at $267.47 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The business has a 50 day moving average of $264.26 and a 200-day moving average of $301.78. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 44.36, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio is 6.63%.

Quanta Services Company 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.