Friday Financial Acquires Shares of 1,721 Quanta Services, Inc. (NYSE:PWR)

Friday Financial acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,721 shares of the construction company's stock, valued at approximately $455,000.

A number of other large investors have also recently added to or reduced their stakes in PWR. Duncker Streett & Co. Inc. increased its holdings in shares of Quanta Services by 20,246.5% in the 1st quarter. Duncker Streett & Co. Inc. now owns 8,749 shares of the construction company's stock worth $2,224,000 after acquiring an additional 8,706 shares during the period. Kennedy Investment Group increased its holdings in shares of Quanta Services by 22.9% in the 1st quarter. Kennedy Investment Group now owns 3,215 shares of the construction company's stock worth $817,000 after acquiring an additional 599 shares during the period. MBE Wealth Management LLC acquired a new stake in shares of Quanta Services in the 1st quarter worth about $243,000. Wolff Wiese Magana LLC increased its holdings in shares of Quanta Services by 1,098.6% in the 1st quarter. Wolff Wiese Magana LLC now owns 827 shares of the construction company's stock worth $210,000 after acquiring an additional 758 shares during the period. Finally, Guyasuta Investment Advisors Inc. increased its holdings in shares of Quanta Services by 4.5% in the 1st quarter. Guyasuta Investment Advisors Inc. now owns 73,269 shares of the construction company's stock worth $18,624,000 after acquiring an additional 3,184 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Piper Sandler reissued an "overweight" rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research note on Friday, May 2nd. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, Citigroup lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Stock Performance

PWR stock opened at $360.51 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market cap of $53.45 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.81 and a beta of 1.07. The firm has a 50 day simple moving average of $326.30 and a 200 day simple moving average of $305.14. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $367.00.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm'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. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is presently 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.

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