Challenger Wealth Management Invests $610,000 in Quanta Services, Inc. (NYSE:PWR)

Challenger Wealth Management purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,931 shares of the construction company's stock, valued at approximately $610,000.

Several other hedge funds also recently modified their holdings of PWR. Banque Transatlantique SA acquired a new position in shares of Quanta Services during the 4th quarter worth $25,000. Webster Bank N. A. grew its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Quarry LP acquired a new position in Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Down 0.6%

PWR traded down $2.08 during trading on Wednesday, reaching $340.27. The company had a trading volume of 666,016 shares, compared to its average volume of 1,569,531. 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 12 month low of $227.08 and a 12 month high of $365.88. The business's fifty day moving average price is $293.45 and its 200 day moving average price is $303.24. The company has a market cap of $50.45 billion, a P/E ratio of 56.43, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The business's revenue was up 23.9% on a year-over-year basis. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PWR. The Goldman Sachs Group lowered their target price on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus raised their target price on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Argus set a $375.00 target price on shares of Quanta Services in a research note on Monday, May 5th. DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $344.85.

About Quanta Services

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.