Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,045 shares of the construction company’s stock after purchasing an additional 4,322 shares during the period. Royal London Asset Management Ltd.’s holdings in Quanta Services were worth $20,241,000 at the end of the most recent quarter.

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

Quanta Services Trading Down 1.0 %

NYSE PWR opened at $268.43 on Friday. The stock has a market capitalization of $39.78 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a 50-day moving average price of $289.30 and a 200 day moving average price of $303.94. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report 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 company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

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.