Sound Income Strategies LLC Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Sound Income Strategies LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 700.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104 shares of the construction company’s stock after purchasing an additional 91 shares during the period. Sound Income Strategies LLC’s holdings in Quanta Services were worth $33,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PWR. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter worth about $30,000. Versant Capital Management Inc grew its holdings in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Quanta Services during the 3rd quarter valued at about $41,000. Finally, Eastern Bank bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $44,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PWR. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America initiated coverage on Quanta Services in a research note on Friday. They issued a “buy” rating and a $407.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Finally, Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.88.

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $357.55 on Friday. The business’s 50-day simple moving average is $332.01 and its two-hundred day simple moving average is $299.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $52.78 billion, a PE ratio of 65.97 and a beta of 1.06. Quanta Services, Inc. has a fifty-two week low of $193.50 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last issued its 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Quanta Services’s revenue for the quarter 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 year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s payout ratio is currently 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.