Cushing Capital Partners LLC Acquires Shares of 809 Quanta Services, Inc. (NYSE:PWR)

Cushing Capital Partners LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 809 shares of the construction company's stock, valued at approximately $206,000.

A number of other institutional investors have also made changes to their positions in the business. Banque Transatlantique SA bought a new position in Quanta Services during the fourth quarter worth $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the 4th quarter worth about $26,000. Sierra Ocean LLC bought a new stake in shares of Quanta Services during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in Quanta Services in the 4th quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its holdings in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Stifel Nicolaus boosted their target price 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. Finally, Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Six investment 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.

Quanta Services Trading Down 0.7%

Shares of PWR stock opened at $359.24 on Wednesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $367.00. The stock's fifty day moving average price is $320.74 and its two-hundred day moving average price is $304.89. 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 company has a market cap of $53.26 billion, a PE ratio of 57.94, a P/E/G ratio of 2.82 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate 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. Quanta Services's revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. Equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Quanta Services 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.