Fiduciary Alliance LLC Buys 1,035 Shares of Quanta Services, Inc. (NYSE:PWR)

Fiduciary Alliance LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 27,905 shares of the construction company's stock after acquiring an additional 1,035 shares during the period. Fiduciary Alliance LLC's holdings in Quanta Services were worth $7,093,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PWR. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter worth approximately $298,000. Union Bancaire Privee UBP SA acquired a new stake in Quanta Services in the fourth quarter worth $46,364,000. Clear Creek Financial Management LLC boosted its position in shares of Quanta Services by 231.3% during the fourth quarter. Clear Creek Financial Management LLC now owns 2,796 shares of the construction company's stock worth $884,000 after purchasing an additional 1,952 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Quanta Services by 20.3% in the 4th quarter. Independence Bank of Kentucky now owns 1,185 shares of the construction company's stock valued at $375,000 after buying an additional 200 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Quanta Services by 2.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,813 shares of the construction company's stock valued at $1,521,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Truist Financial cut their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Citigroup dropped their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $344.85.

Quanta Services Stock Up 3.3%

Shares of Quanta Services stock traded up $11.29 on Tuesday, reaching $356.82. 1,133,626 shares of the company were exchanged, compared to its average volume of 1,548,859. The company has a market capitalization of $52.90 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.41 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a 50-day moving average of $297.68 and a 200 day moving average of $303.25.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company's quarterly 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 year.

Quanta Services Announces Dividend

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 issued 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 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.