VCI Wealth Management LLC Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

VCI Wealth Management LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,717 shares of the construction company’s stock after purchasing an additional 188 shares during the quarter. VCI Wealth Management LLC’s holdings in Quanta Services were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the last quarter. HB Wealth Management LLC boosted its stake in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after buying an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its stake in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Resurgent Financial Advisors LLC lifted its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its stake in shares of Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America assumed coverage on Quanta Services in a report on Friday. They set a “buy” rating and a $407.00 target price on the stock. Daiwa Capital Markets assumed coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Finally, Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Price Performance

Shares of NYSE PWR opened at $292.61 on Tuesday. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. 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 company has a market capitalization of $43.19 billion, a price-to-earnings ratio of 53.99 and a beta of 1.06. The business has a 50 day simple moving average of $331.29 and a 200-day simple moving average of $300.43.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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 return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed 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 of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 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.