Duncker Streett & Co. Inc. Raises Stake in Quanta Services, Inc. (NYSE:PWR)

Duncker Streett & Co. Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 20,246.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,749 shares of the construction company's stock after purchasing an additional 8,706 shares during the quarter. Duncker Streett & Co. Inc.'s holdings in Quanta Services were worth $2,224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Kennedy Investment Group lifted its position in shares of Quanta Services by 22.9% during the first quarter. Kennedy Investment Group now owns 3,215 shares of the construction company's stock worth $817,000 after purchasing an additional 599 shares during the last quarter. MBE Wealth Management LLC purchased a new position in shares of Quanta Services during the first quarter valued at $243,000. Wolff Wiese Magana LLC increased its stake in shares of Quanta Services by 1,098.6% during the first quarter. Wolff Wiese Magana LLC now owns 827 shares of the construction company's stock valued at $210,000 after buying an additional 758 shares during the period. Guyasuta Investment Advisors Inc. increased its stake in shares of Quanta Services by 4.5% during the first quarter. Guyasuta Investment Advisors Inc. now owns 73,269 shares of the construction company's stock valued at $18,624,000 after buying an additional 3,184 shares during the period. Finally, Canton Hathaway LLC purchased a new position in shares of Quanta Services during the first quarter valued at $890,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PWR shares. 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. Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Truist Financial cut their price target 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. TD Cowen raised their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup cut their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Six investment 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $349.65.

Quanta Services Stock Up 1.6%

Shares of PWR stock traded up $5.97 during trading hours on Thursday, reaching $380.04. 1,210,151 shares of the company's stock were exchanged, compared to its average volume of 940,928. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $381.12. The stock has a market cap of $56.34 billion, a PE ratio of 61.30, a PEG ratio of 2.91 and a beta of 1.07. 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 stock's fifty day moving average price is $334.47 and its two-hundred day moving average price is $306.72.

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. 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. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The company's revenue was up 23.9% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

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.