Quanta Services, Inc. (NYSE:PWR) Stake Increased by Webster Bank N. A.

Webster Bank N. A. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 4,050.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83 shares of the construction company’s stock after purchasing an additional 81 shares during the period. Webster Bank N. A.’s holdings in Quanta Services were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PWR. APG Asset Management N.V. raised its holdings in shares of Quanta Services by 236.6% during the second quarter. APG Asset Management N.V. now owns 17,401 shares of the construction company’s stock worth $4,125,000 after acquiring an additional 12,231 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Quanta Services by 1.6% during the second quarter. Mackenzie Financial Corp now owns 12,762 shares of the construction company’s stock worth $3,243,000 after acquiring an additional 204 shares in the last quarter. Creative Planning raised its holdings in shares of Quanta Services by 8.9% during the second quarter. Creative Planning now owns 20,700 shares of the construction company’s stock worth $5,260,000 after acquiring an additional 1,694 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Quanta Services by 8.8% during the second quarter. NewEdge Advisors LLC now owns 8,806 shares of the construction company’s stock worth $2,238,000 after acquiring an additional 714 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Quanta Services by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,525 shares of the construction company’s stock worth $2,166,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PWR shares. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Citigroup raised 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. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. 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. Finally, Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Stock Down 18.3 %

PWR stock opened at $292.61 on Tuesday. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. The company has a market cap of $43.19 billion, a PE ratio of 53.99 and a beta of 1.06. The business’s 50-day simple moving average is $331.29 and its 200 day simple moving average is $300.43. 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 (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the business earned $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

About Quanta Services

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.