Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,167 shares of the construction company’s stock after buying an additional 29 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Quanta Services were worth $1,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carr Financial Group Corp boosted its holdings in Quanta Services by 17.4% in the fourth quarter. Carr Financial Group Corp now owns 1,293 shares of the construction company’s stock valued at $409,000 after purchasing an additional 192 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Quanta Services by 10.8% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 30,700 shares of the construction company’s stock valued at $9,703,000 after purchasing an additional 3,000 shares in the last quarter. Zweig DiMenna Associates LLC grew its position in shares of Quanta Services by 21.5% during the fourth quarter. Zweig DiMenna Associates LLC now owns 87,600 shares of the construction company’s stock worth $27,686,000 after buying an additional 15,494 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $298,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $357.55 on Monday. The stock has a market capitalization of $52.78 billion, a price-to-earnings ratio of 65.97 and a beta of 1.06. 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 50 day moving average of $332.01 and a two-hundred day moving average of $300.23. Quanta Services, Inc. has a twelve month low of $193.50 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.56 billion. During the same period last year, the firm posted $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Bank of America began coverage on shares of Quanta Services in a research report on Friday. They issued a “buy” rating and a $407.00 price objective on the stock. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird upped their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus increased their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $329.88.

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.