2,405 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by OFC Financial Planning LLC

OFC Financial Planning LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,405 shares of the construction company’s stock, valued at approximately $760,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC lifted its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc increased 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 during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $308.10 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1 year low of $193.52 and a 1 year high of $365.88. The firm has a market capitalization of $45.48 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.49 and a beta of 1.06. The firm’s 50 day moving average is $328.59 and its 200-day moving average is $301.01.

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

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors 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 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PWR. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

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.