Forum Financial Management LP Buys 307 Shares of Quanta Services, Inc. (NYSE:PWR)

Forum Financial Management LP raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,839 shares of the construction company’s stock after purchasing an additional 307 shares during the period. Forum Financial Management LP’s holdings in Quanta Services were worth $1,213,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Diamant Asset Management Inc. purchased a new stake in Quanta Services in the 3rd quarter worth approximately $206,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Quanta Services in the third quarter worth $1,058,000. Tidal Investments LLC raised its position in shares of Quanta Services by 10.5% during the 3rd quarter. Tidal Investments LLC now owns 18,779 shares of the construction company’s stock valued at $5,597,000 after purchasing an additional 1,781 shares during the period. Synovus Financial Corp lifted its stake in shares of Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Old North State Trust LLC boosted its holdings in Quanta Services by 7.3% in the 3rd quarter. Old North State Trust LLC now owns 1,459 shares of the construction company’s stock worth $435,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. B. Riley restated a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Piper Sandler initiated coverage on shares of Quanta Services in a report on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 target price on the stock. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.25.

Quanta Services Trading Down 0.7 %

Shares of PWR stock opened at $267.47 on Friday. The stock’s 50 day simple moving average is $263.56 and its two-hundred day simple moving average is $301.58. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The company has a market cap of $39.64 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. 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 declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s payout ratio is presently 6.63%.

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.