Lyell Wealth Management LP Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Lyell Wealth Management LP bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,518 shares of the construction company’s stock, valued at approximately $3,008,000.

A number of other institutional investors have also made changes to their positions in the business. Bank of Jackson Hole Trust acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $42,000. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Quanta Services by 75.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,644 shares of the construction company’s stock worth $2,416,000 after acquiring an additional 3,282 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Quanta Services by 3.9% during the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock worth $151,659,000 after acquiring an additional 18,206 shares during the last quarter. Blue Chip Partners LLC increased its holdings in shares of Quanta Services by 78.2% during the 4th quarter. Blue Chip Partners LLC now owns 56,681 shares of the construction company’s stock worth $17,914,000 after acquiring an additional 24,866 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Quanta Services by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 22,404 shares of the construction company’s stock worth $7,081,000 after acquiring an additional 992 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PWR. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus upped their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, BMO Capital Markets initiated coverage on Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Up 0.4 %

Shares of NYSE:PWR opened at $286.71 on Wednesday. The business’s 50 day simple moving average is $319.99 and its two-hundred day simple moving average is $304.91. The firm has a market cap of $42.32 billion, a P/E ratio of 52.90, a PEG ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 52-week low of $206.58 and a 52-week high of $365.88.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.14%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is presently 7.38%.

Quanta Services Company 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.