NEOS Investment Management LLC Purchases 3,459 Shares of Quanta Services, Inc. (NYSE:PWR)

NEOS Investment Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 72.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,231 shares of the construction company’s stock after purchasing an additional 3,459 shares during the quarter. NEOS Investment Management LLC’s holdings in Quanta Services were worth $2,601,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC increased its position in shares of Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC grew its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after buying an additional 33 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 0.3 %

PWR opened at $254.17 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The firm has a market capitalization of $37.67 billion, a P/E ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a fifty day moving average price of $283.07 and a 200-day moving average price of $304.37.

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several analysts have commented on PWR shares. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Seven investment 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 stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $326.79.

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.