Dorsey Wright & Associates Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Dorsey Wright & Associates grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,468 shares of the construction company’s stock after purchasing an additional 836 shares during the quarter. Quanta Services makes up about 1.6% of Dorsey Wright & Associates’ investment portfolio, making the stock its 12th biggest position. Dorsey Wright & Associates’ holdings in Quanta Services were worth $6,785,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares during the last quarter. Commonwealth Financial Services LLC lifted its holdings in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the period. HB Wealth Management LLC boosted its position in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $254.17 on Friday. The company has a market capitalization of $37.67 billion, a P/E ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10. The company has a 50-day moving average of $283.07 and a 200-day moving average of $304.75. 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 1-year low of $227.11 and a 1-year high of $365.88.

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

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services’s payout ratio is 6.63%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PWR shares. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.