150 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 150 shares of the construction company’s stock, valued at approximately $47,000.

Several other institutional investors have also modified their holdings of PWR. Webster Bank N. A. increased its position in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC raised its position 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 buying an additional 91 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PWR shares. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Price Performance

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

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm 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 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is 7.38%.

Quanta Services Company 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.