1,011 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC acquired 1,011 shares of Quanta Services, Inc. (NYSE:PWR) valued at approximately $257,000 in the first quarter.
• Quanta Services reported $2.48 EPS for the quarter, exceeding analyst expectations, with a revenue of $6.77 billion — up 21.1% year-over-year.
• The company recently declared a quarterly dividend of $0.10 per share, representing a 0.1% dividend yield.

Blueshift Asset Management LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,011 shares of the construction company's stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Quanta Services in the fourth quarter worth about $298,000. World Investment Advisors bought a new stake in shares of Quanta Services in the fourth quarter worth about $229,000. ExodusPoint Capital Management LP bought a new stake in shares of Quanta Services in the fourth quarter worth about $2,541,000. Prudential PLC grew its stake in shares of Quanta Services by 20.2% in the fourth quarter. Prudential PLC now owns 4,966 shares of the construction company's stock worth $1,570,000 after purchasing an additional 834 shares during the last quarter. Finally, Smith Moore & CO. bought a new stake in shares of Quanta Services in the fourth quarter worth about $206,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.8%

PWR traded up $3.07 during trading on Tuesday, hitting $396.69. The stock had a trading volume of 88,745 shares, compared to its average volume of 1,438,429. The company has a market capitalization of $58.81 billion, a PE ratio of 61.41, a PEG ratio of 2.71 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock has a 50 day simple moving average of $376.54 and a two-hundred day simple moving average of $319.21.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Wall Street Analyst Weigh In

Several analysts have commented on PWR shares. TD Cowen raised their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday. Roth Capital restated a "buy" rating and issued a $450.00 price objective (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Citigroup restated a "buy" rating and issued a $492.00 price objective (up from $432.00) on shares of Quanta Services in a report on Monday, July 28th. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Finally, BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $390.18.

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.