Orion Portfolio Solutions LLC Has $4.11 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Orion Portfolio Solutions LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,002 shares of the construction company’s stock after acquiring an additional 165 shares during the period. Orion Portfolio Solutions LLC’s holdings in Quanta Services were worth $4,109,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares during the last quarter. State Street Corp raised its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after acquiring an additional 46,357 shares in the last quarter. Norges Bank acquired a new position in Quanta Services during the 4th quarter valued at about $544,937,000. Finally, Bank of New York Mellon Corp increased its holdings in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after purchasing an additional 45,486 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

NYSE PWR opened at $254.17 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $37.67 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm’s 50-day simple moving average is $283.07 and its two-hundred day simple moving average is $305.05.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s payout ratio is 6.63%.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. 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 research report on Thursday, January 16th. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Seven equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

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.