Bayforest Capital Ltd Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Quanta Services, Inc. by 5,166.7%, owning 1,106 shares worth approximately $281,000 as of the latest SEC filing.
• Quanta Services reported a quarterly earnings per share (EPS) of $2.48, exceeding estimates, with revenue of $6.77 billion, reflecting a 21.1% increase from the previous year.
• The company announced a quarterly dividend of $0.10 per share, with a dividend yield of 0.1% and a payout ratio of 6.45%.

Bayforest Capital Ltd grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5,166.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,106 shares of the construction company's stock after purchasing an additional 1,085 shares during the quarter. Bayforest Capital Ltd's holdings in Quanta Services were worth $281,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Quarry LP acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE:PWR opened at $404.73 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. 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 $60.01 billion, a PE ratio of 65.28, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The firm has a 50-day moving average price of $374.19 and a 200 day moving average price of $318.48.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. The company's quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. Truist Financial dropped their price target 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. B. Riley boosted their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $375.23.

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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