Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 76.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,267 shares of the construction company's stock after purchasing an additional 10,985 shares during the quarter. Bogart Wealth LLC's holdings in Quanta Services were worth $6,422,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sigma Planning Corp grew its stake in Quanta Services by 52.6% in the first quarter. Sigma Planning Corp now owns 1,346 shares of the construction company's stock worth $342,000 after purchasing an additional 464 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Quanta Services by 6.9% in the first quarter. Catalyst Financial Partners LLC now owns 1,185 shares of the construction company's stock worth $301,000 after acquiring an additional 77 shares during the period. Cohen Capital Management Inc. purchased a new position in Quanta Services during the 1st quarter valued at about $210,000. Signaturefd LLC lifted its position in shares of Quanta Services by 1.4% in the 1st quarter. Signaturefd LLC now owns 3,091 shares of the construction company's stock worth $786,000 after purchasing an additional 44 shares during the period. Finally, Private Capital Advisors Inc. bought a new position in shares of Quanta Services during the first quarter valued at approximately $258,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR traded up $3.45 during midday trading on Monday, hitting $387.23. 712,807 shares of the company traded hands, compared to its average volume of 1,455,756. The business has a 50 day simple moving average of $355.23 and a two-hundred day simple moving average of $310.23. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $389.21. The company has a market capitalization of $57.41 billion, a price-to-earnings ratio of 62.46, a PEG ratio of 2.98 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating 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 firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the company posted $1.41 EPS. Quanta Services's quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday. Truist Financial decreased their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Citigroup cut their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Evercore ISI increased their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $353.35.

Quanta Services 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.