1,200 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,200 shares of the construction company's stock, valued at approximately $305,000.

Several other hedge funds also recently bought and sold shares of PWR. Banque Transatlantique SA acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $25,000. Quarry LP acquired a new position in Quanta Services during the fourth quarter worth $26,000. Rakuten Securities Inc. boosted its position in shares of Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after buying an additional 113 shares during the period. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at $42,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. UBS Group set a $413.00 price target on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $349.65.

Quanta Services Price Performance

PWR stock opened at $380.04 on Friday. The business has a 50 day moving average price of $334.47 and a 200 day moving average price of $306.72. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $56.34 billion, a price-to-earnings ratio of 61.30, a PEG ratio of 2.91 and a beta of 1.07. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $381.12.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company's revenue was up 23.9% compared to the same quarter last year. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.45%.

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.

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