Canton Hathaway LLC Acquires Shares of 3,500 Quanta Services, Inc. (NYSE:PWR)

Canton Hathaway LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,500 shares of the construction company's stock, valued at approximately $890,000.

A number of other hedge funds have also made changes to their positions in the business. Banque Transatlantique SA purchased a new position in Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in Quanta Services during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in Quanta Services during the 4th quarter worth approximately $34,000. Rakuten Securities Inc. lifted its position in 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 during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in Quanta Services during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 0.0%

Shares of PWR stock traded up $0.08 during trading hours on Friday, hitting $360.51. 1,563,360 shares of the company were exchanged, compared to its average volume of 854,396. The firm has a market cap of $53.45 billion, a PE ratio of 58.15, a PEG ratio of 2.81 and a beta of 1.07. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $367.00. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $326.30 and a 200 day moving average of $305.35.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the firm posted $1.41 EPS. The company's revenue was up 23.9% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's payout ratio is 6.45%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. DA Davidson increased their price objective on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, UBS Group set a $413.00 target price on Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus 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.