Beaton Management Co. Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Beaton Management Co. Inc. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 800 shares of the construction company's stock, valued at approximately $203,000.

Other large investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. grew its position in shares of Quanta Services by 4.6% in the first quarter. Koshinski Asset Management Inc. now owns 3,796 shares of the construction company's stock valued at $965,000 after purchasing an additional 167 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Quanta Services by 2.7% during the first quarter. WASHINGTON TRUST Co now owns 56,503 shares of the construction company's stock worth $14,362,000 after buying an additional 1,482 shares during the last quarter. Insight Inv LLC purchased a new stake in Quanta Services in the 1st quarter valued at $4,937,000. MorganRosel Wealth Management LLC increased its stake in shares of Quanta Services by 3.5% in the 1st quarter. MorganRosel Wealth Management LLC now owns 4,831 shares of the construction company's stock worth $1,228,000 after acquiring an additional 162 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of Quanta Services by 1.5% during the 1st quarter. Valley National Advisers Inc. now owns 7,080 shares of the construction company's stock worth $1,798,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.8%

Shares of PWR opened at $378.40 on Tuesday. 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 stock has a market capitalization of $56.10 billion, a PE ratio of 61.03, a P/E/G ratio of 2.97 and a beta of 1.07. The company's 50-day simple moving average is $339.24 and its 200-day simple moving average is $307.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $382.79.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS 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 firm's revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Truist Financial dropped their price target 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. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. BMO Capital Markets set a $352.00 price objective on Quanta Services in a report on Friday, May 2nd. Finally, B. Riley raised their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average 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.

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