Envestnet Asset Management Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 186,693 shares of the construction company’s stock after purchasing an additional 18,548 shares during the period. Envestnet Asset Management Inc.’s holdings in Quanta Services were worth $59,004,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PWR. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter valued at $544,937,000. Raymond James Financial Inc. bought a new position in Quanta Services during the fourth quarter valued at about $203,068,000. Proficio Capital Partners LLC bought a new position in Quanta Services during the fourth quarter valued at about $53,949,000. Vanguard Group Inc. boosted its stake in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Quanta Services during the fourth quarter valued at about $46,364,000. 90.49% of the stock is owned by institutional investors and hedge funds.
Quanta Services Stock Up 10.1 %
PWR opened at $269.86 on Thursday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The business has a 50-day moving average of $268.59 and a 200-day moving average of $302.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market capitalization of $39.99 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.
Quanta Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid 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 is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.
Analysts Set New Price Targets
Several research analysts recently weighed in on PWR shares. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. B. Riley reiterated a “neutral” rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Piper Sandler assumed coverage on Quanta Services in a research report on Tuesday. They issued an “overweight” rating and a $286.00 price target for the company. Finally, Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.25.
View Our Latest Research Report on PWR
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.
Recommended Stories
- Five stocks we like better than Quanta Services
- What Are Dividend Challengers?
- Quantum Computing: The $6.5 Billion Opportunity You Can’t Ignore
- What to Know About Investing in Penny Stocks
- Are Tariffs Threatening Disney’s Comeback Story?
- Investing in Construction Stocks
- Is Alphabet a Generational Buying Opportunity at These Levels?
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.