Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,604 shares of the construction company's stock after selling 5,690 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Quanta Services were worth $5,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter valued at $25,000. Quarry LP acquired a new position in shares of Quanta Services during the 4th quarter worth about $26,000. Rakuten Securities Inc. boosted its position in shares of Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after acquiring an additional 113 shares in the last quarter. OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services during the 1st quarter worth about $42,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after purchasing an additional 81 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.6%

Shares of PWR stock traded up $2.21 during trading hours on Friday, reaching $381.68. 3,687,738 shares of the company's stock were exchanged, compared to its average volume of 972,807. The stock's fifty day moving average price is $336.76 and its two-hundred day moving average price is $307.14. The stock has a market cap of $56.59 billion, a PE ratio of 61.56, a PEG ratio of 2.95 and a beta of 1.07. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $382.79. 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 posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. B. Riley upped their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. DA Davidson increased their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Truist Financial decreased their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group set a $413.00 target price on Quanta Services and gave the company a "buy" rating in a report on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.