Onyx Bridge Wealth Group LLC Decreases Position in Quanta Services, Inc. (NYSE:PWR)

Onyx Bridge Wealth Group LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,039 shares of the construction company’s stock after selling 159 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Quanta Services were worth $328,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PWR. Webster Bank N. A. increased its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $310.81 on Friday. Quanta Services, Inc. has a 52-week low of $205.82 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $45.88 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a fifty day moving average of $325.27 and a 200-day moving average of $302.28.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PWR. 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 price objective for the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

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.