Callan Family Office LLC Has $384,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Callan Family Office LLC reduced its holdings in Quanta Services by 55.2% during the first quarter, now owning 1,510 shares worth $384,000.
• Multiple analysts have raised their ratings on Quanta Services, with a majority rating the stock as a "Moderate Buy" and setting a consensus price target of $392.45.
• Quanta Services announced a quarterly dividend of $0.10 per share, marking a 0.1% dividend yield with a payout ratio of 6.19%.

Callan Family Office LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 55.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,510 shares of the construction company's stock after selling 1,862 shares during the period. Callan Family Office LLC's holdings in Quanta Services were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Capital World Investors increased its stake in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Bank of America Corp DE increased its stake in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Nuveen LLC purchased a new position in Quanta Services in the 1st quarter worth about $404,288,000. Finally, Northern Trust Corp increased its stake in Quanta Services by 18.5% in the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after purchasing an additional 232,375 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR traded up $2.45 on Friday, reaching $379.96. 1,436,415 shares of the stock traded hands, compared to its average volume of 1,312,980. The firm has a market cap of $56.62 billion, a price-to-earnings ratio of 58.82, a P/E/G ratio of 2.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock's 50-day moving average price is $382.86 and its 200-day moving average price is $322.64.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm 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 was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company 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 6.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PWR shares. Evercore ISI lifted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research note on Monday, July 28th. Roth Capital reaffirmed a "buy" rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

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.