KFG Wealth Management LLC Buys 124 Shares of Quanta Services, Inc. (NYSE:PWR)

KFG Wealth Management LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 13.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,019 shares of the construction company’s stock after acquiring an additional 124 shares during the period. KFG Wealth Management LLC’s holdings in Quanta Services were worth $322,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter worth $31,000. Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Quanta Services during the 3rd quarter worth $41,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $357.55 on Friday. The business’s 50-day moving average price is $332.01 and its 200 day moving average price is $299.93. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $52.78 billion, a price-to-earnings ratio of 65.97 and a beta of 1.06. Quanta Services, Inc. has a 52 week low of $193.50 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the company earned $2.08 EPS. The business’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend 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 7.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PWR shares. Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup increased their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.88.

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.