1,891 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,891 shares of the construction company’s stock, valued at approximately $598,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 180 Wealth Advisors LLC increased its holdings in Quanta Services by 2.0% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,227 shares of the construction company’s stock worth $704,000 after buying an additional 43 shares in the last quarter. MRA Advisory Group purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $202,000. Signal Advisors Wealth LLC grew its stake in shares of Quanta Services by 18.0% in the fourth quarter. Signal Advisors Wealth LLC now owns 13,897 shares of the construction company’s stock worth $4,392,000 after acquiring an additional 2,119 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $203,000. Finally, Friedenthal Financial purchased a new stake in Quanta Services in the fourth quarter worth approximately $49,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $335.92 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The stock’s 50-day simple moving average is $329.23 and its 200-day simple moving average is $295.52. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 61.98 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $6.56 billion. During the same period in the prior year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 7.38%.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. Truist Financial decreased 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. Citigroup increased their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $324.19.

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.