Arkadios Wealth Advisors Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Arkadios Wealth Advisors bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 822 shares of the construction company’s stock, valued at approximately $260,000.

Other institutional investors have also recently made changes to their positions in the company. Electron Capital Partners LLC raised its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the period. Alkeon Capital Management LLC increased its position in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after buying an additional 147,980 shares during the period. Public Sector Pension Investment Board lifted its position in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after buying an additional 125,530 shares during the last quarter. Finally, Meitav Investment House Ltd. purchased a new position in Quanta Services during the third quarter worth $27,430,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PWR shares. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.06.

Quanta Services Trading Down 0.8 %

NYSE:PWR opened at $354.52 on Friday. The firm has a 50-day simple moving average of $330.71 and a 200-day simple moving average of $298.51. Quanta Services, Inc. has a one year low of $192.62 and a one year high of $365.88. The firm has a market cap of $52.33 billion, a P/E ratio of 65.41 and a beta of 1.06. 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 (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.11%. 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 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.