Signal Advisors Wealth LLC Purchases 2,119 Shares of Quanta Services, Inc. (NYSE:PWR)

Signal Advisors Wealth LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,897 shares of the construction company’s stock after purchasing an additional 2,119 shares during the period. Signal Advisors Wealth LLC’s holdings in Quanta Services were worth $4,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Acadian Asset Management LLC bought a new stake in shares of Quanta Services during the second quarter worth about $1,031,000. Quest Partners LLC bought a new stake in Quanta Services during the 2nd quarter worth approximately $35,000. LPL Financial LLC raised its stake in shares of Quanta Services by 15.1% in the second quarter. LPL Financial LLC now owns 154,176 shares of the construction company’s stock worth $39,174,000 after purchasing an additional 20,205 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Quanta Services in the second quarter valued at approximately $421,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Quanta Services by 26.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock valued at $319,000 after buying an additional 262 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PWR shares. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Citigroup lifted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Stock Performance

Shares of PWR stock opened at $314.38 on Tuesday. The stock has a market capitalization of $46.41 billion, a P/E ratio of 58.00 and a beta of 1.06. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $328.26 and its 200 day moving average is $294.21. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR) last issued 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. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is presently 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.