City National Bank of Florida MSD Takes $287,000 Position in Quanta Services, Inc. (NYSE:PWR)

City National Bank of Florida MSD bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 908 shares of the construction company's stock, valued at approximately $287,000.

Several other large investors have also recently modified their holdings of PWR. Norges Bank bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $544,937,000. Capital World Investors increased its position in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $203,068,000. Bank of America Corp DE increased its position in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after purchasing an additional 373,429 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 1.4%

Shares of NYSE PWR traded up $4.59 during mid-day trading on Friday, reaching $335.42. 932,410 shares of the company were exchanged, compared to its average volume of 1,582,542. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 55.63, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a 50-day moving average of $289.31 and a 200 day moving average of $302.80.

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 analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm's quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PWR shares. B. Riley upped their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler set a $360.00 price objective on Quanta Services and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Six equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $344.35.

Quanta Services Company 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.