B & T Capital Management DBA Alpha Capital Management Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

B & T Capital Management DBA Alpha Capital Management bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,914 shares of the construction company's stock, valued at approximately $6,587,000. Quanta Services makes up about 1.3% of B & T Capital Management DBA Alpha Capital Management's holdings, making the stock its 26th biggest holding.

Several other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $26,000. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $42,000. Sound Income Strategies LLC increased its stake in shares of Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after purchasing an additional 81 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $53,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE PWR opened at $383.63 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $388.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $56.88 billion, a P/E ratio of 61.88, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a fifty day moving average of $355.23 and a 200-day moving average of $310.51.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the firm posted $1.41 EPS. The firm's revenue was up 23.9% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PWR shares. Truist Financial reduced their price objective 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. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $363.00 to $411.00 and gave the company a "buy" rating in a research note on Friday. Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Nine equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $353.35.

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.

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