Arkadios Wealth Advisors Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Arkadios Wealth Advisors increased its holdings in Quanta Services by 1,918.6% in the first quarter, bringing its total shares to 16,593 valued at $4.2 million.
• Quanta Services reported earnings per share of $1.78, exceeding analyst estimates of $1.72, with revenues of $6.23 billion for the quarter representing a 23.9% year-over-year growth.
• The stock currently has an average rating of "Moderate Buy" among analysts, with a price target range from $324 to $450.

Arkadios Wealth Advisors increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1,918.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,593 shares of the construction company's stock after purchasing an additional 15,771 shares during the period. Arkadios Wealth Advisors' holdings in Quanta Services were worth $4,218,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter worth about $25,000. Quarry LP bought a new stake in Quanta Services during the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the first quarter valued at $25,000. OLD Second National Bank of Aurora bought a new stake in Quanta Services during the first quarter valued at $42,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Quanta Services during the first quarter valued at $43,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. TD Cowen lifted their price objective on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday. Finally, B. Riley lifted their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Eleven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $379.32.

Quanta Services Trading Down 2.7%

Shares of NYSE PWR traded down $10.95 during midday trading on Friday, reaching $395.18. The company had a trading volume of 2,094,000 shares, compared to its average volume of 1,116,995. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm's fifty day moving average price is $375.39 and its 200-day moving average price is $319.00. The stock has a market cap of $58.59 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.79 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is currently 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.