Friday Financial bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,721 shares of the construction company's stock, valued at approximately $455,000.
Several other large investors have also added to or reduced their stakes in the business. Allstate Corp bought a new stake in Quanta Services during the fourth quarter worth $1,357,000. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth $298,000. Farther Finance Advisors LLC raised its position in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after acquiring an additional 588 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Quanta Services during the fourth quarter worth $46,364,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Performance
NYSE:PWR traded up $5.97 during mid-day trading on Thursday, reaching $380.04. 1,210,151 shares of the company's stock were exchanged, compared to its average volume of 940,928. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $381.12. The firm has a market capitalization of $56.34 billion, a PE ratio of 61.30, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. The business's fifty day simple moving average is $334.47 and its two-hundred day simple moving average is $306.72. 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 (NYSE:PWR - Get Free Report) last released its quarterly 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%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services's payout ratio is 6.45%.
Analyst Upgrades and Downgrades
PWR has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Finally, Evercore ISI increased their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.65.
Check Out Our Latest Stock Analysis on Quanta Services
About Quanta Services
(
Free Report)
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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