Geneos Wealth Management Inc. Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Geneos Wealth Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,167 shares of the construction company’s stock after buying an additional 29 shares during the period. Geneos Wealth Management Inc.’s holdings in Quanta Services were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the third quarter valued at $31,000. Sound Income Strategies LLC raised its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Versant Capital Management Inc grew its stake in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the 3rd quarter valued at about $41,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $357.55 on Monday. The business has a 50-day moving average of $332.01 and a two-hundred day moving average of $300.23. The firm has a market capitalization of $52.78 billion, a PE ratio of 65.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the firm posted $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Ratings Changes

Several brokerages have issued reports on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Stifel Nicolaus increased their target price on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $329.88.

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.