BNC Wealth Management LLC Buys Shares of 13,051 Quanta Services, Inc. (NYSE:PWR)

BNC Wealth Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 13,051 shares of the construction company’s stock, valued at approximately $4,125,000. Quanta Services comprises about 1.4% of BNC Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter worth about $31,000. Versant Capital Management Inc grew its stake in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the third quarter worth about $41,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the third quarter worth about $44,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PWR shares. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group lifted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday. Finally, Citigroup boosted their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR opened at $337.10 on Friday. 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 business has a fifty day moving average of $329.35 and a two-hundred day moving average of $296.48. The stock has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 7.38%.

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.