Treasurer of the State of North Carolina Purchases 400 Shares of Quanta Services, Inc. (NYSE:PWR)

Treasurer of the State of North Carolina increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,882 shares of the construction company’s stock after purchasing an additional 400 shares during the period. Treasurer of the State of North Carolina’s holdings in Quanta Services were worth $20,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Quanta Services in the fourth quarter worth $544,937,000. Raymond James Financial Inc. bought a new stake in Quanta Services during the 4th quarter valued at about $203,068,000. Proficio Capital Partners LLC bought a new position in Quanta Services in the fourth quarter worth approximately $53,949,000. Vanguard Group Inc. grew its position in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Quanta Services during the 4th quarter valued at about $46,364,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. JPMorgan Chase & Co. upped their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler initiated coverage on Quanta Services in a research note on Tuesday. They set an “overweight” rating and a $286.00 target price on the stock. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.25.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $269.90 on Friday. The company has a market capitalization of $40.00 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company’s fifty day moving average price is $267.21 and its 200 day moving average price is $302.53. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is currently 6.63%.

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.