Sagespring Wealth Partners LLC Invests $212,000 in Quanta Services, Inc. (NYSE:PWR)

Sagespring Wealth Partners LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 670 shares of the construction company’s stock, valued at approximately $212,000.

Other hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services in the fourth quarter worth $27,000. Sound Income Strategies LLC boosted its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Quanta Services during the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc grew its stake in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. 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 for the company. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Piper Sandler assumed coverage on Quanta Services in a research note on Tuesday, April 8th. They set an “overweight” rating and a $286.00 price objective for the company. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Price Performance

NYSE:PWR opened at $267.47 on Friday. 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 stock has a 50 day moving average price of $264.26 and a 200 day moving average price of $301.78. The stock has a market cap of $39.64 billion, a PE ratio of 44.36, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

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.