Whalen Wealth Management Inc. Makes New $544,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Whalen Wealth Management Inc. purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,720 shares of the construction company’s stock, valued at approximately $544,000.

Other institutional investors have also made changes to their positions in the company. XTX Topco Ltd increased its holdings in shares of Quanta Services by 31.6% in the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock worth $476,000 after acquiring an additional 449 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Quanta Services by 13.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock worth $433,000 after purchasing an additional 200 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Quanta Services by 0.9% during the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after buying an additional 102 shares during the period. ProShare Advisors LLC lifted its stake in Quanta Services by 118.6% in the second quarter. ProShare Advisors LLC now owns 40,464 shares of the construction company’s stock valued at $10,281,000 after buying an additional 21,954 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Quanta Services by 4.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,058 shares of the construction company’s stock valued at $281,000 after buying an additional 46 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup increased their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price objective 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, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $325.06.

Quanta Services Trading Down 0.3 %

Shares of PWR stock opened at $357.02 on Thursday. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $365.88. The company has a market capitalization of $52.70 billion, a PE ratio of 65.87 and a beta of 1.06. The firm has a 50 day moving average price of $330.71 and a two-hundred day moving average price of $298.51. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced 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 net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

Quanta Services 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.