Emerald Advisers LLC Acquires Shares of 530 Quanta Services, Inc. (NYSE:PWR)

Emerald Advisers LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 530 shares of the construction company’s stock, valued at approximately $168,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Quanta Services during the 4th quarter valued at $203,068,000. Alkeon Capital Management LLC boosted its holdings in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services in the fourth quarter valued at $53,949,000. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Quanta Services in the 4th quarter worth about $46,364,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $268.43 on Monday. The stock has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a fifty day moving average of $289.30 and a 200-day moving average of $304.61. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-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.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PWR shares. Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Roth Mkm assumed coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $326.79.

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.