SeaCrest Wealth Management LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

SeaCrest Wealth Management LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,891 shares of the construction company’s stock, valued at approximately $598,000.

A number of other hedge funds also recently bought and sold shares of PWR. Quest Partners LLC bought a new stake in shares of Quanta Services in the 2nd quarter worth about $35,000. Oppenheimer Asset Management Inc. increased its stake in Quanta Services by 26.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock worth $319,000 after acquiring an additional 262 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Quanta Services by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 159,803 shares of the construction company’s stock valued at $40,604,000 after purchasing an additional 11,577 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of Quanta Services by 98.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 1,892 shares of the construction company’s stock valued at $481,000 after purchasing an additional 938 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Quanta Services by 18.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 14,160 shares of the construction company’s stock worth $3,598,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of a number of analyst reports. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup raised their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Trading Up 2.0 %

NYSE:PWR opened at $335.92 on Friday. The firm has a 50-day simple moving average of $329.23 and a 200-day simple moving average of $295.52. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The firm has a market cap of $49.59 billion, a P/E ratio of 61.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last posted 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend 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 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.