Daymark Wealth Partners LLC Has $15.58 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Daymark Wealth Partners LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 390.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,277 shares of the construction company's stock after acquiring an additional 48,774 shares during the period. Daymark Wealth Partners LLC's holdings in Quanta Services were worth $15,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. Union Bancaire Privee UBP SA bought a new stake in Quanta Services in the 4th quarter valued at approximately $46,364,000. Golden State Wealth Management LLC bought a new position in shares of Quanta Services during the 4th quarter worth approximately $176,000. Kingsview Wealth Management LLC raised its holdings in shares of Quanta Services by 9.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 9,409 shares of the construction company's stock valued at $2,974,000 after purchasing an additional 791 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Quanta Services by 726.4% in the fourth quarter. Empowered Funds LLC now owns 22,138 shares of the construction company's stock worth $6,995,000 after purchasing an additional 19,459 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PWR shares. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. TD Cowen raised their price objective on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus lifted their target price on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. BMO Capital Markets set a $352.00 price target on Quanta Services in a research report on Friday, May 2nd. Finally, B. Riley boosted their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given 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 $347.35.

Quanta Services Stock Up 0.5%

Quanta Services stock opened at $361.20 on Monday. The company's 50-day moving average price is $306.00 and its two-hundred day moving average price is $303.99. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $53.55 billion, a P/E ratio of 59.90, a P/E/G ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend 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.

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