Laird Norton Wetherby Wealth Management LLC Has $737,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Laird Norton Wetherby Wealth Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,333 shares of the construction company’s stock after selling 400 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Quanta Services were worth $737,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in Quanta Services in the 4th quarter valued at $25,000. Quarry LP acquired a new stake in Quanta Services in the 4th quarter valued at $26,000. Webster Bank N. A. grew its position in 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 purchasing an additional 81 shares during the period. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC grew its position in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler set a $360.00 price objective on shares of Quanta Services and gave the stock an “overweight” rating in a report on Tuesday, May 6th. B. Riley lifted their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Truist Financial cut their price objective 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. Six 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Trading Down 0.2%

Shares of Quanta Services stock opened at $342.89 on Thursday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The stock’s 50-day simple moving average is $277.17 and its 200 day simple moving average is $301.34. The stock has a market capitalization of $50.84 billion, a P/E ratio of 56.86, a P/E/G ratio of 1.41 and a beta of 1.02. 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 (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the previous year, the business posted $1.41 EPS. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given 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 was Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.45%.

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.