Flywheel Private Wealth LLC Invests $1.19 Million in Quanta Services, Inc. (NYSE:PWR)

Flywheel Private Wealth LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,672 shares of the construction company's stock, valued at approximately $1,188,000. Quanta Services comprises about 1.1% of Flywheel Private Wealth LLC's portfolio, making the stock its 23rd largest position.

A number of other institutional investors have also made changes to their positions in PWR. Brighton Jones LLC bought a new stake in Quanta Services in the 4th quarter valued at $298,000. Union Bancaire Privee UBP SA bought a new stake in Quanta Services in the fourth quarter valued at about $46,364,000. Kestra Private Wealth Services LLC raised its position in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Savant Capital LLC boosted its holdings in Quanta Services by 2.7% during the fourth quarter. Savant Capital LLC now owns 6,516 shares of the construction company's stock valued at $2,059,000 after purchasing an additional 170 shares in the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $206,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.2%

Shares of NYSE:PWR traded down $0.64 during mid-day trading on Friday, reaching $358.01. The stock had a trading volume of 454,122 shares, compared to its average volume of 1,502,688. The firm has a market cap of $53.08 billion, a PE ratio of 59.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The firm has a 50 day simple moving average of $314.35 and a two-hundred day simple moving average of $304.86. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88.

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, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Analyst Ratings Changes

A number of brokerages have weighed in on PWR. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. B. Riley upped their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Citigroup cut their target price 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. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $349.65.

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.