Quanta Services, Inc. (NYSE:PWR) Position Boosted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,126 shares of the construction company’s stock after purchasing an additional 6,958 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Quanta Services were worth $19,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter worth about $25,000. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Quarry LP bought a new position in Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC lifted its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.1%

Shares of PWR stock opened at $326.00 on Monday. The firm has a market capitalization of $48.33 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm’s fifty day simple moving average is $271.55 and its 200 day simple moving average is $300.57. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PWR. Truist Financial cut their price target on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. DA Davidson boosted 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, May 2nd. BMO Capital Markets set a $352.00 price objective on Quanta Services in a report on Friday, May 2nd. Finally, Stifel Nicolaus raised their price objective on Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

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.