Truist Financial Corp Has $151.66 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Truist Financial Corp lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,857 shares of the construction company’s stock after buying an additional 18,206 shares during the quarter. Truist Financial Corp’s holdings in Quanta Services were worth $151,659,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Versor Investments LP acquired a new stake in Quanta Services in the third quarter worth $406,000. Kestra Private Wealth Services LLC grew its holdings in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. grew its holdings in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Synovus Financial Corp grew its holdings in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd grew its holdings in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 2.0 %

PWR opened at $285.13 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market cap of $42.09 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a twelve month low of $206.58 and a twelve month high of $365.88. The company’s 50-day moving average price is $320.72 and its two-hundred day moving average price is $304.69.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analyst Weigh In

A number of research firms have commented on PWR. Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Daiwa Capital Markets began coverage on shares of Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.50.

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.