Castleview Partners LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Castleview Partners LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 787.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,155 shares of the construction company's stock after acquiring an additional 3,687 shares during the quarter. Castleview Partners LLC's holdings in Quanta Services were worth $1,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Carr Financial Group Corp raised its holdings in shares of Quanta Services by 5.9% during the 1st quarter. Carr Financial Group Corp now owns 1,369 shares of the construction company's stock worth $348,000 after acquiring an additional 76 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $2,688,000. Segment Wealth Management LLC raised its holdings in shares of Quanta Services by 7.3% during the 1st quarter. Segment Wealth Management LLC now owns 21,362 shares of the construction company's stock worth $5,430,000 after acquiring an additional 1,460 shares in the last quarter. Abundance Wealth Counselors raised its holdings in shares of Quanta Services by 1.7% during the 1st quarter. Abundance Wealth Counselors now owns 6,547 shares of the construction company's stock worth $1,664,000 after acquiring an additional 109 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of Quanta Services by 10.3% during the 1st quarter. Avior Wealth Management LLC now owns 1,068 shares of the construction company's stock worth $271,000 after acquiring an additional 100 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. UBS Group set a $413.00 price objective on Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. The Goldman Sachs Group restated a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Finally, Citigroup decreased their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $349.65.

Quanta Services Trading Up 0.0%

PWR stock traded up $0.08 during midday trading on Friday, reaching $360.51. The company's stock had a trading volume of 1,563,360 shares, compared to its average volume of 854,396. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a fifty day simple moving average of $326.30 and a two-hundred day simple moving average of $305.35. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $367.00. The firm has a market capitalization of $53.45 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.81 and a beta of 1.07.

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

Quanta Services Dividend Announcement

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

Quanta Services Company 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.