Signet Financial Management LLC Raises Position in Quanta Services, Inc. (NYSE:PWR)

Signet Financial Management LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,543 shares of the construction company’s stock after acquiring an additional 38 shares during the quarter. Signet Financial Management LLC’s holdings in Quanta Services were worth $4,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Versor Investments LP acquired a new position in Quanta Services in the 3rd quarter valued at $406,000. Principal Financial Group Inc. grew its stake in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new stake in Quanta Services in the 3rd quarter valued at about $2,715,000. Waverton Investment Management Ltd lifted its stake in Quanta Services by 6.5% in the 3rd 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 in the last quarter. Finally, Synovus Financial Corp grew its position in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR traded up $0.90 on Monday, hitting $314.38. 798,117 shares of the company’s stock were exchanged, compared to its average volume of 901,794. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a market capitalization of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06. The firm’s 50-day moving average is $328.26 and its 200 day moving average is $294.21.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Truist Financial raised their price target on shares of Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Finally, Northland Securities reissued an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

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.