Castleview Partners LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 787.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,155 shares of the construction company's stock after buying an additional 3,687 shares during the period. Castleview Partners LLC's holdings in Quanta Services were worth $1,056,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of Quanta Services during the 4th quarter worth about $25,000. Quarry LP acquired a new position in Quanta Services during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $34,000. Rakuten Securities Inc. boosted its stake 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 during the period. Finally, Bank of Jackson Hole Trust bought a new stake in Quanta Services in the 4th quarter valued at $42,000. 90.49% of the stock is currently owned by institutional investors.
Quanta Services Price Performance
Shares of Quanta Services stock traded up $6.83 during midday trading on Tuesday, hitting $372.59. 938,598 shares of the company traded hands, compared to its average volume of 1,480,244. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $373.30. 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 market cap of $55.24 billion, a price-to-earnings ratio of 60.10, a PEG ratio of 2.81 and a beta of 1.07. The firm's fifty day moving average price is $328.14 and its 200-day moving average price is $305.38.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Announces Dividend
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.
Analyst Ratings Changes
PWR has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Truist Financial reduced their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. DA Davidson increased their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.
View Our Latest Research Report on PWR
Quanta Services Company Profile
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Free Report)
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.
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