10,240 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by EFG Asset Management Americas Corp.

Key Points

• EFG Asset Management Americas Corp. has invested approximately $2.60 million in Quanta Services by acquiring 10,240 shares during the first quarter of the year.
• Quanta Services reported a revenue of $6.23 billion for the last quarter, surpassing analyst estimates of $5.88 billion, while earnings per share came in at $1.78, above the expected $1.72.
• The company recently announced a quarterly dividend of $0.10 per share, reflecting an annual yield of 0.10%, with a dividend payout ratio of 6.45%.

EFG Asset Management Americas Corp. acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,240 shares of the construction company's stock, valued at approximately $2,603,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Quanta Services during the fourth quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the 1st quarter valued at about $25,000. Quarry LP purchased a new position in shares of Quanta Services during the 4th quarter valued at about $26,000. OLD Second National Bank of Aurora bought a new stake in Quanta Services in the 1st quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Quanta Services in the first quarter worth approximately $43,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PWR shares. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $379.32.

Quanta Services Stock Down 2.7%

PWR traded down $10.95 during trading on Friday, reaching $395.18. The stock had a trading volume of 2,094,000 shares, compared to its average volume of 1,116,995. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $58.59 billion, a price-to-earnings ratio of 61.17, a P/E/G ratio of 2.79 and a beta of 1.10. The stock's 50 day moving average is $375.39 and its two-hundred day moving average is $319.00. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the business earned $1.90 EPS. Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 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.