Wahed Invest LLC Buys 120 Shares of Quanta Services, Inc. (NYSE:PWR)

Wahed Invest LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 3,646 shares of the construction company’s stock after acquiring an additional 120 shares during the period. Wahed Invest LLC’s holdings in Quanta Services were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the period. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC increased its position in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the period. Moody Lynn & Lieberson LLC boosted its holdings in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PWR shares. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, B. Riley reaffirmed a “neutral” rating and set a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.70.

Quanta Services Price Performance

Shares of PWR opened at $322.50 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $47.82 billion, a PE ratio of 53.48, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The business has a 50-day simple moving average of $263.79 and a two-hundred day simple moving average of $300.24.

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

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 6.63%.

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.