Castlekeep Investment Advisors LLC Makes New $306,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Castlekeep Investment Advisors LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 968 shares of the construction company's stock, valued at approximately $306,000.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $25,000. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares during the period. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.6%

Shares of PWR traded down $2.08 during midday trading on Wednesday, hitting $340.27. 666,016 shares of the company's stock traded hands, compared to its average volume of 1,569,531. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm's fifty day moving average is $293.45 and its 200-day moving average is $303.24. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $50.45 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PWR. Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. DA Davidson boosted their price target on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Piper Sandler upped their target price on Quanta Services from $360.00 to $370.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, B. Riley upped their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $344.85.

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.