Prudential PLC Buys 834 Shares of Quanta Services, Inc. (NYSE:PWR)

Prudential PLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,966 shares of the construction company’s stock after purchasing an additional 834 shares during the quarter. Prudential PLC’s holdings in Quanta Services were worth $1,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Stifel Nicolaus decreased their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, B. Riley restated a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Down 5.0 %

PWR stock opened at $239.50 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The stock has a market capitalization of $35.49 billion, a P/E ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. The business has a fifty day moving average price of $273.15 and a 200-day moving average price of $304.43.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

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.