Albion Financial Group UT Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Albion Financial Group UT bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 18,936 shares of the construction company's stock, valued at approximately $4,813,000.

Several other large investors have also recently bought and sold shares of PWR. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. Capital World Investors grew its stake in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after buying an additional 99,416 shares during the last quarter. Invesco Ltd. raised its position in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after buying an additional 68,565 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Quanta Services during the 4th quarter worth $544,937,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of research reports. Piper Sandler restated an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. UBS Group set a $413.00 price objective on Quanta Services and gave the company a "buy" rating in a report on Thursday, June 12th. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Northland Capmk downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $350.95.

Quanta Services Trading Up 3.5%

Shares of PWR stock traded up $13.10 during trading hours on Thursday, reaching $386.51. The company's stock had a trading volume of 869,625 shares, compared to its average volume of 1,483,891. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $387.37. The stock has a market capitalization of $57.30 billion, a P/E ratio of 62.34, a P/E/G ratio of 2.90 and a beta of 1.08. The firm's fifty day simple moving average is $343.42 and its 200 day simple moving average is $307.94.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

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.