Newbridge Financial Services Group Inc. Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 217 shares of the construction company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Webster Bank N. A. grew its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $31,000. Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $310.83 on Tuesday. Quanta Services, Inc. has a 52 week low of $205.82 and a 52 week high of $365.88. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $45.88 billion, a P/E ratio of 57.35, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The stock has a 50 day moving average of $324.00 and a 200-day moving average of $303.66.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PWR. Truist Financial dropped their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets began coverage on shares of Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price for the company. Daiwa Capital Markets started coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.50.

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.