Aptus Capital Advisors LLC Purchases 5,280 Shares of Quanta Services, Inc. (NYSE:PWR)

Aptus Capital Advisors LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,938 shares of the construction company’s stock after buying an additional 5,280 shares during the period. Aptus Capital Advisors LLC’s holdings in Quanta Services were worth $12,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. AlTi Global Inc. lifted its stake in shares of Quanta Services by 1.4% during the 4th quarter. AlTi Global Inc. now owns 3,300 shares of the construction company’s stock worth $1,112,000 after acquiring an additional 44 shares during the last quarter. Wahed Invest LLC boosted its stake in shares of Quanta Services by 3.4% during the fourth quarter. Wahed Invest LLC now owns 3,646 shares of the construction company’s stock valued at $1,152,000 after purchasing an additional 120 shares during the period. Arrow Financial Corp grew its holdings in shares of Quanta Services by 26.2% in the fourth quarter. Arrow Financial Corp now owns 4,015 shares of the construction company’s stock worth $1,269,000 after purchasing an additional 834 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Quanta Services in the 4th quarter worth about $3,819,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Quanta Services during the 4th quarter valued at about $2,563,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $321.04 on Friday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market cap of $47.60 billion, a PE ratio of 53.24, a P/E/G ratio of 1.41 and a beta of 1.04. The business has a 50-day simple moving average of $264.93 and a two-hundred day simple moving average of $300.27.

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

Quanta Services Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. Truist Financial reduced their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. DA Davidson increased their price target on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler began coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.80.

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.