Tandem Financial LLC Acquires Stake in Quanta Services, Inc.

Tandem Financial LLC has recently announced its acquisition of a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter. According to a filing made with the SEC, the firm purchased 11,608 shares of Quanta Services, amounting to a total value of approximately $3,669,000. This investment indicates that Quanta Services now comprises 3.9% of Tandem Financial LLC's overall holdings, positioning the stock as the firm's ninth largest investment.

Other institutional investors have also shown interest in Quanta Services by buying and selling shares recently. Webster Bank N.A. significantly increased its stake in the company by an impressive 4,050.0% during the fourth quarter, bringing its total ownership to 83 shares valued at $26,000 after acquiring an additional 81 shares. Similarly, Legacy Investment Solutions LLC and Prestige Wealth Management Group LLC both entered new positions in Quanta Services in the third quarter, with values around $31,000 and $30,000, respectively. Sound Income Strategies LLC boosted its holdings by 700.0% in the fourth quarter, owning 104 shares valued at $33,000 after buying 91 more shares. Additionally, Versant Capital Management Inc. raised its stake in Quanta Services by 62.5% during the same period, totaling 117 shares valued at $37,000. Currently, hedge funds and institutional investors hold a significant 90.49% of Quanta Services' stock.

Recent Stock Performance

As of Friday, shares of NYSE PWR opened at $310.81. The stock has experienced a 12-month low of $205.82 and a high of $365.88. The company's 50-day simple moving average stands at $325.27, while the 200-day simple moving average is $302.28. Quanta Services has a market capitalization of $45.88 billion, with a price-to-earnings ratio of 57.35 and a price-to-earnings-growth ratio of 1.54. The beta of the stock is 1.05, indicating some level of volatility. The company maintains a quick ratio of 1.19, a current ratio of 1.23, and a debt-to-equity ratio of 0.58.

Dividend Increase

Quanta Services has also recently announced an increase in its quarterly dividend. The new dividend of $0.10 per share was paid on January 13th to shareholders who were on record as of January 2nd. This is an increase from the previous quarterly dividend of $0.09. The annualized dividend now stands at $0.40, resulting in a dividend yield of 0.13%. The ex-dividend date was set for January 2nd, and the company's dividend payout ratio is currently at 7.38%.

Analysts' Opinions

A number of analysts have shared their perspectives on Quanta Services. For instance, Stifel Nicolaus raised its target price for the stock from $374.00 to $388.00 while maintaining a "buy" rating. Similarly, UBS Group increased their price target from $313.00 to $367.00 and also issued a “buy” rating. Bank of America launched coverage on Quanta Services with a “buy” rating and a target price of $407.00. Truist Financial adjusted its price target from $399.00 to $398.00 while still rating it as a “buy.” Additionally, Daiwa Capital Markets provided an “outperform” rating with a target price of $355.00. In summary, four analysts have rated the stock as a hold, while fifteen analysts recommend it as a buy, and one has given a strong buy rating. MarketBeat reports that the stock currently holds a consensus rating of "Moderate Buy" with an average target price of $330.50.

Understanding Quanta Services

Company Overview

Quanta Services, Inc. is engaged in offering comprehensive infrastructure solutions across various sectors such as electric and gas utilities, renewable energy, communications, and pipeline and energy areas, both within the United States and internationally. Through its Electric Power Infrastructure Solutions segment, Quanta Services specializes in several core activities that include the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities. The company is also responsible for the installation and maintenance of smart grid technologies on electric networks and commercial and industrial wiring projects.

Investment, Stocks, Dividends