180 Wealth Advisors LLC Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

180 Wealth Advisors LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 15.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,089 shares of the construction company’s stock after acquiring an additional 416 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Quanta Services were worth $803,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in shares of Quanta Services during the fourth quarter valued at approximately $631,000. Truist Financial Corp raised its holdings in shares of Quanta Services by 2.2% during the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after acquiring an additional 9,421 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after acquiring an additional 99,840 shares during the last quarter. Carnegie Capital Asset Management LLC raised its holdings in shares of Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after acquiring an additional 325 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI increased their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. B. Riley increased their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Robert W. Baird increased their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Citigroup increased their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $268.85.

Quanta Services Trading Up 0.2 %

Shares of PWR traded up $0.49 during midday trading on Thursday, hitting $267.06. 648,469 shares of the stock were exchanged, compared to its average volume of 928,592. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The stock has a fifty day simple moving average of $268.58 and a 200 day simple moving average of $240.17. The firm has a market cap of $39.09 billion, a P/E ratio of 51.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, research analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s payout ratio is currently 6.98%.

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.