DSG Capital Advisors LLC Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

DSG Capital Advisors LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,886 shares of the construction company's stock after purchasing an additional 4,394 shares during the period. DSG Capital Advisors LLC's holdings in Quanta Services were worth $3,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allstate Corp bought a new position in Quanta Services during the 4th quarter valued at approximately $1,357,000. Brighton Jones LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $298,000. Farther Finance Advisors LLC lifted its stake in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after acquiring an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Objectivity Squared LLC purchased a new position in Quanta Services during the 1st quarter valued at $213,000. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PWR. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research report on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Trading Down 0.8%

NYSE:PWR opened at $378.40 on Tuesday. The stock has a market cap of $56.10 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 2.97 and a beta of 1.07. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company's 50 day moving average price is $339.24 and its 200-day moving average price is $307.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $382.79.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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. 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 the consensus estimate of $5.88 billion. During the same period last year, the business posted $1.41 EPS. The company's revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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