First United Bank & Trust Buys 794 Shares of Quanta Services, Inc. (NYSE:PWR)

First United Bank & Trust lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 67.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,979 shares of the construction company’s stock after purchasing an additional 794 shares during the quarter. First United Bank & Trust’s holdings in Quanta Services were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PWR. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc increased its stake 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. MidAtlantic Capital Management Inc. acquired a new position in Quanta Services during the third quarter valued at approximately $41,000. Finally, Eastern Bank acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $44,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $337.10 on Tuesday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. 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 stock has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The stock’s fifty day simple moving average is $329.50 and its two-hundred day simple moving average is $297.36.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PWR shares. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. 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. UBS Group raised their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial cut 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 equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $324.19.

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.