Exchange Traded Concepts LLC Has $5.53 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Exchange Traded Concepts LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 117.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,752 shares of the construction company's stock after purchasing an additional 11,756 shares during the period. Exchange Traded Concepts LLC's holdings in Quanta Services were worth $5,529,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PWR. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $544,937,000. Capital World Investors grew its position in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after purchasing an additional 811,797 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Quanta Services during the 4th quarter valued at $203,068,000. Finally, Bank of America Corp DE lifted its stake in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $357.86 on Monday. The firm has a market cap of $53.06 billion, a P/E ratio of 59.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The firm's 50-day simple moving average is $316.61 and its 200-day simple moving average is $304.39. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PWR. Piper Sandler restated an "overweight" rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. DA Davidson increased their price objective on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Roth Capital raised Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $349.65.

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.

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