Forum Financial Management LP Purchases 307 Shares of Quanta Services, Inc. (NYSE:PWR)

Forum Financial Management LP grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,839 shares of the construction company’s stock after purchasing an additional 307 shares during the period. Forum Financial Management LP’s holdings in Quanta Services were worth $1,213,000 at the end of the most recent quarter.

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

Quanta Services Trading Down 0.7 %

Quanta Services stock opened at $267.47 on Friday. The business’s fifty day moving average is $263.56 and its 200 day moving average is $301.58. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The stock has a market capitalization of $39.64 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on PWR shares. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Piper Sandler initiated coverage on Quanta Services in a report on Tuesday, April 8th. They set an “overweight” rating and a $286.00 target price on the stock. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.25.

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.