Avior Wealth Management LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Avior Wealth Management LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 968 shares of the construction company’s stock after selling 256 shares during the period. Avior Wealth Management LLC’s holdings in Quanta Services were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. HB Wealth Management LLC raised its stake in 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 during the period. Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after buying an additional 33 shares during the last quarter. Tower Wealth Partners Inc. raised its position in shares of Quanta Services by 3.1% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after buying an additional 34 shares during the period. Huntington National Bank grew its position in Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after acquiring an additional 35 shares during the period. Finally, Terra Nova Asset Management LLC increased its stake in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.8 %

Shares of NYSE:PWR opened at $357.55 on Monday. Quanta Services, Inc. has a fifty-two week low of $193.50 and a fifty-two week high of $365.88. The firm’s 50 day moving average price is $332.01 and its 200 day moving average price is $300.23. 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 stock has a market cap of $52.78 billion, a price-to-earnings ratio of 65.97 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America began coverage on Quanta Services in a research note on Friday. They issued a “buy” rating and a $407.00 price target on the stock. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fourteen have issued 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 $329.88.

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.