NEOS Investment Management LLC Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

NEOS Investment Management LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 72.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,231 shares of the construction company’s stock after buying an additional 3,459 shares during the quarter. NEOS Investment Management LLC’s holdings in Quanta Services were worth $2,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PWR. Kestra Private Wealth Services LLC grew its holdings in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp increased its holdings 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 worth $2,148,000 after buying an additional 1,830 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $1,754,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.3 %

NYSE:PWR opened at $254.17 on Friday. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company’s 50-day simple moving average is $283.07 and its 200 day simple moving average is $304.37. The firm has a market capitalization of $37.67 billion, a P/E ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its quarterly 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. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent research reports. Truist Financial lowered their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price for the company. Finally, Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services 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.