Archford Capital Strategies LLC Acquires 2,021 Shares of Quanta Services, Inc. (NYSE:PWR)

Archford Capital Strategies LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 188.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,092 shares of the construction company's stock after purchasing an additional 2,021 shares during the period. Archford Capital Strategies LLC's holdings in Quanta Services were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. increased its position in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after acquiring an additional 161,277 shares in the last quarter. Capital World Investors raised its position 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 purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Quanta Services by 2.9% during 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 in the last quarter. Invesco Ltd. boosted its position in Quanta Services by 3.7% in 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 during the last quarter. Finally, Norges Bank bought a new position in Quanta Services in the 4th quarter valued at $544,937,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.6%

Shares of PWR traded up $2.21 on Friday, hitting $381.68. The company's stock had a trading volume of 3,687,738 shares, compared to its average volume of 972,807. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $56.59 billion, a price-to-earnings ratio of 61.56, a P/E/G ratio of 2.95 and a beta of 1.07. The firm's fifty day moving average price is $336.76 and its 200-day moving average price is $307.14. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $382.79.

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 company had revenue of $6.23 billion during 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 business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.10%. Quanta Services's dividend payout ratio (DPR) is 6.45%.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. UBS Group set a $413.00 target price on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. DA Davidson lifted their price target on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Stifel Nicolaus increased their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Truist Financial reduced their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Six equities research 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.