Benjamin Edwards Inc. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Benjamin Edwards Inc. grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 42.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,040 shares of the construction company's stock after acquiring an additional 902 shares during the quarter. Benjamin Edwards Inc.'s holdings in Quanta Services were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the 1st quarter worth about $25,000. Quarry LP purchased a new position in shares of Quanta Services in the 4th quarter worth about $26,000. Zions Bancorporation National Association UT purchased a new position in shares of Quanta Services in the 1st quarter worth about $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services in the 1st quarter worth about $42,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.6%

Quanta Services stock traded up $2.45 on Friday, hitting $379.96. 1,436,415 shares of the stock traded hands, compared to its average volume of 1,312,980. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $56.62 billion, a P/E ratio of 58.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. The business's fifty day simple moving average is $382.86 and its 200 day simple moving average is $322.64. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its 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. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 earnings per share. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is presently 6.19%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. UBS Group upped their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, DA Davidson upped their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $392.45.

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.