Dakota Wealth Management Buys 2,612 Shares of Quanta Services, Inc. (NYSE:PWR)

Dakota Wealth Management boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,779 shares of the construction company's stock after buying an additional 2,612 shares during the period. Dakota Wealth Management's holdings in Quanta Services were worth $5,536,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the fourth quarter worth about $25,000. Quarry LP bought a new stake in Quanta Services during the 4th quarter valued at approximately $26,000. OLD Second National Bank of Aurora bought a new stake in Quanta Services during the 1st quarter valued at approximately $42,000. Sound Income Strategies LLC boosted its position in Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after acquiring an additional 81 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWR. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. UBS Group set a $413.00 target price on shares of Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Finally, TD Cowen upped their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $353.35.

Quanta Services Stock Performance

PWR stock traded down $0.34 on Tuesday, reaching $386.66. 606,120 shares of the company were exchanged, compared to its average volume of 1,449,320. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $390.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock's fifty day moving average price is $355.23 and its 200 day moving average price is $310.23. The firm has a market capitalization of $57.33 billion, a PE ratio of 62.36, a PEG ratio of 2.98 and a beta of 1.08.

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. The firm 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%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

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.