Financial Harvest LLC Invests $2.35 Million in Quanta Services, Inc. (NYSE:PWR)

Financial Harvest LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,236 shares of the construction company's stock, valued at approximately $2,348,000. Quanta Services comprises about 1.6% of Financial Harvest LLC's holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Legacy Capital Wealth Partners LLC boosted its stake in shares of Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after acquiring an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after buying an additional 37 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group increased its holdings in Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock worth $345,000 after purchasing an additional 39 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of Quanta Services by 0.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company's stock valued at $4,256,000 after buying an additional 41 shares during the last quarter. Finally, Quent Capital LLC boosted its position in shares of Quanta Services by 3.2% during the 1st quarter. Quent Capital LLC now owns 1,362 shares of the construction company's stock valued at $346,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of PWR traded up $5.63 during midday trading on Friday, hitting $403.53. 1,060,076 shares of the company traded hands, compared to its average volume of 1,095,293. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $405.43. The firm has a 50 day moving average of $362.17 and a 200-day moving average of $312.87. The stock has a market cap of $59.83 billion, a price-to-earnings ratio of 65.09, a PEG ratio of 3.14 and a beta of 1.08.

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, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWR. DA Davidson increased their price target on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. TD Cowen lifted their price objective on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Citigroup cut their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $355.75.

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.