Quanta Services, Inc. (NYSE:PWR) Stock Holdings Lifted by Cascade Investment Group Inc.

Cascade Investment Group Inc. raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,687 shares of the construction company’s stock after purchasing an additional 32 shares during the period. Cascade Investment Group Inc.’s holdings in Quanta Services were worth $849,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PWR. My Legacy Advisors LLC raised its stake in shares of Quanta Services by 2.9% in the 4th quarter. My Legacy Advisors LLC now owns 4,155 shares of the construction company’s stock valued at $1,369,000 after acquiring an additional 117 shares in the last quarter. Oak Ridge Investments LLC raised its position in shares of Quanta Services by 5.2% in the fourth quarter. Oak Ridge Investments LLC now owns 20,675 shares of the construction company’s stock valued at $6,534,000 after purchasing an additional 1,025 shares during the period. BNC Wealth Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter worth $4,125,000. TruWealth Advisors LLC boosted its holdings in shares of Quanta Services by 1.3% during the 4th quarter. TruWealth Advisors LLC now owns 45,553 shares of the construction company’s stock worth $14,397,000 after buying an additional 583 shares during the period. Finally, HB Wealth Management LLC grew its stake in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after buying an additional 31 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PWR. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. TD Cowen increased their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Up 0.3 %

Shares of PWR stock opened at $337.10 on Monday. The firm’s fifty day moving average price is $329.35 and its two-hundred day moving average price is $296.78. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

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.