Brighton Jones LLC Purchases 879 Shares of Quanta Services, Inc. (NYSE:PWR)

Brighton Jones LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 93.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,822 shares of the construction company's stock after buying an additional 879 shares during the period. Brighton Jones LLC's holdings in Quanta Services were worth $463,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PWR. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter worth about $25,000. Quarry LP acquired a new position in Quanta Services in the 4th quarter worth about $26,000. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in shares of Quanta Services during the fourth quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its position in shares of Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI upped their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. DA Davidson boosted their price target on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Finally, Truist Financial lowered 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. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $349.65.

Quanta Services Stock Up 0.5%

Shares of PWR stock traded up $1.86 during trading hours on Thursday, reaching $360.48. The company had a trading volume of 854,470 shares, compared to its average volume of 948,259. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $367.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The business has a fifty day simple moving average of $324.49 and a 200-day simple moving average of $305.40. The company has a market cap of $53.44 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last posted its 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 return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company's revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.