Quanta Services, Inc. (NYSE:PWR) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 44.9% during the fourth quarter, Holdings Channel reports. The firm owned 545 shares of the construction company’s stock after purchasing an additional 169 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Quanta Services were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its position in shares of Quanta Services by 31.6% during the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock worth $476,000 after acquiring an additional 449 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Quanta Services by 13.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock valued at $433,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. grew its position in Quanta Services by 0.9% in the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock valued at $2,891,000 after buying an additional 102 shares during the last quarter. ProShare Advisors LLC grew its position in Quanta Services by 118.6% in the 2nd quarter. ProShare Advisors LLC now owns 40,464 shares of the construction company’s stock valued at $10,281,000 after buying an additional 21,954 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Quanta Services by 4.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,058 shares of the construction company’s stock valued at $281,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.3 %

Shares of NYSE PWR opened at $357.02 on Thursday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $365.88. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 65.87 and a beta of 1.06. 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 simple moving average of $330.71 and a 200-day simple moving average of $298.51.

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

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analyst Ratings Changes

PWR has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.06.

About Quanta Services

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.