Cohen Capital Management Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Cohen Capital Management Inc. purchased a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 827 shares of the construction company's stock, valued at approximately $210,000.

A number of other hedge funds have also bought and sold shares of PWR. Banque Transatlantique SA purchased a new position in shares of Quanta Services during the 4th quarter worth about $25,000. Quarry LP purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services during the first quarter valued at approximately $42,000. Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 77.9% in the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after buying an additional 81 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Quanta Services by 181.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 186 shares of the construction company's stock worth $59,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $383.63 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The firm has a market cap of $56.88 billion, a PE ratio of 61.88, a P/E/G ratio of 2.98 and a beta of 1.08. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $388.00. The stock has a fifty day moving average price of $355.23 and a 200-day moving average price of $310.23.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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. 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 revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial reduced their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday. Finally, UBS Group set a $413.00 price target on Quanta Services and gave the company a "buy" rating in a research note on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $353.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.