Investment Management Corp VA ADV Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Investment Management Corp VA ADV acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 210 shares of the construction company’s stock, valued at approximately $66,000.

Several other institutional investors have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter worth approximately $25,000. Webster Bank N. A. lifted its holdings in shares of Quanta Services by 4,050.0% in 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 during the last quarter. Quarry LP purchased a new stake in shares of Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services during the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 700.0% in 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 period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research note on Friday, May 2nd. Piper Sandler set a $360.00 target price on Quanta Services and gave the company an “overweight” rating in a report on Tuesday, May 6th. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, TD Cowen increased their price objective on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $344.35.

Quanta Services Stock Down 3.1%

Shares of NYSE:PWR opened at $330.71 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The firm has a market capitalization of $49.03 billion, a P/E ratio of 54.84, a P/E/G ratio of 1.41 and a beta of 1.02. The stock has a 50 day moving average price of $287.86 and a 200-day moving average price of $302.71.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Quanta Services Company 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.