Newbridge Financial Services Group Inc. Takes $34,000 Position in Quanta Services, Inc. (NYSE:PWR)

Newbridge Financial Services Group Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 156 shares of the construction company’s stock, valued at approximately $34,000.

Other large investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its holdings in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. Valley National Advisers Inc. purchased a new stake in Quanta Services during the fourth quarter worth $41,000. Vestor Capital LLC purchased a new stake in Quanta Services during the fourth quarter worth $42,000. Planned Solutions Inc. purchased a new stake in Quanta Services during the fourth quarter worth $43,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in Quanta Services by 58.1% during the fourth quarter. VisionPoint Advisory Group LLC now owns 215 shares of the construction company’s stock worth $46,000 after buying an additional 79 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. Citigroup increased their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Truist Financial reaffirmed a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. DA Davidson increased their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Evercore ISI increased their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Robert W. Baird increased their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $268.85.

Quanta Services Price Performance

Shares of NYSE PWR opened at $281.20 on Wednesday. The firm has a 50-day simple moving average of $265.51 and a 200-day simple moving average of $236.90. The stock has a market capitalization of $41.16 billion, a price-to-earnings ratio of 54.50 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. On average, equities analysts predict that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s payout ratio is currently 6.98%.

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.