Quanta Services, Inc. (NYSE:PWR) Shares Acquired by HB Wealth Management LLC

Posted by Defense World Staff on Apr 2nd, 2023

HB Wealth Management LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,109 shares of the construction company’s stock after purchasing an additional 168 shares during the quarter. HB Wealth Management LLC’s holdings in Quanta Services were worth $301,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $27,000. Ronald Blue Trust Inc. purchased a new position in Quanta Services during the second quarter worth approximately $28,000. Alta Advisers Ltd purchased a new position in Quanta Services during the third quarter worth approximately $51,000. Money Concepts Capital Corp raised its stake in Quanta Services by 112.4% during the third quarter. Money Concepts Capital Corp now owns 478 shares of the construction company’s stock worth $61,000 after purchasing an additional 253 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new position in Quanta Services during the third quarter worth approximately $63,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock opened at $166.64 on Friday. Quanta Services, Inc. has a 12 month low of $106.33 and a 12 month high of $168.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59. The firm has a market capitalization of $24.00 billion, a P/E ratio of 50.19 and a beta of 1.08. The company’s fifty day moving average price is $156.73 and its two-hundred day moving average price is $146.51.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Quanta Services’s dividend payout ratio is currently 9.64%.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 3,956 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $162.85, for a total value of $644,234.60. Following the completion of the sale, the executive vice president now owns 46,823 shares of the company’s stock, valued at approximately $7,625,125.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 41,646 shares of company stock valued at $6,801,898. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of a number of recent analyst reports. Cowen increased their price target on shares of Quanta Services from $155.00 to $165.00 in a research note on Tuesday, December 27th. Argus increased their price target on shares of Quanta Services from $168.00 to $189.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Robert W. Baird increased their price target on shares of Quanta Services from $157.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. DA Davidson raised their target price on shares of Quanta Services from $140.00 to $160.00 in a research note on Friday, February 24th. Finally, StockNews.com began coverage on shares of Quanta Services in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

About Quanta Services

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.