Advisor Resource Council Invests $2.69 Million in Quanta Services, Inc. (NYSE:PWR)

Advisor Resource Council purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,574 shares of the construction company's stock, valued at approximately $2,688,000.

Several other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $25,000. Quarry LP acquired a new stake in Quanta Services during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in Quanta Services in the fourth quarter worth about $34,000. Rakuten Securities Inc. boosted its stake in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares during the period. Finally, Bank of Jackson Hole Trust bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $42,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup lowered their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Truist Financial reduced their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Six 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Stock Performance

PWR opened at $360.48 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $367.00. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07. The business has a 50 day moving average price of $324.49 and a two-hundred day moving average price of $305.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

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

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio 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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