Truist Financial Corp Has $151.66 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Truist Financial Corp grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 479,857 shares of the construction company’s stock after purchasing an additional 18,206 shares during the period. Truist Financial Corp owned about 0.33% of Quanta Services worth $151,659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Webster Bank N. A. boosted its position 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 acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC boosted its position 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 acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $285.13 on Monday. The company has a fifty day moving average price of $320.72 and a 200-day moving average price of $304.69. The company has a market capitalization of $42.09 billion, a P/E ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $206.58 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.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is 7.38%.

Analysts Set New Price Targets

Several research firms recently issued reports on PWR. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Four analysts have rated the stock with a hold rating, fifteen 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 an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services 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.