Fiduciary Trust Co Purchases 239 Shares of Quanta Services, Inc. (NYSE:PWR)

Fiduciary Trust Co raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 8,023 shares of the construction company’s stock after acquiring an additional 239 shares during the period. Fiduciary Trust Co’s holdings in Quanta Services were worth $2,536,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter valued at about $544,937,000. Capital World Investors raised its stake in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Quanta Services during the fourth quarter worth $203,068,000. Bank of America Corp DE boosted its position in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after acquiring an additional 373,429 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $326.00 on Friday. The firm has a market capitalization of $48.33 billion, a P/E ratio of 54.06, a PEG ratio of 1.41 and a beta of 1.02. The stock has a 50-day simple moving average of $271.55 and a two-hundred day simple moving average of $300.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 analysts’ expectations of $5.88 billion. During the same period last year, the business earned $1.41 earnings per share. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.45%.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Piper Sandler set a $360.00 price target on Quanta Services and gave the stock an “overweight” rating in a research report on Tuesday. Finally, B. Riley raised their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $344.35.

Quanta Services 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.