Garrison Bradford & Associates Inc. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Garrison Bradford & Associates Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,823 shares of the construction company's stock after purchasing an additional 4,404 shares during the period. Quanta Services makes up 6.4% of Garrison Bradford & Associates Inc.'s portfolio, making the stock its 5th biggest holding. Garrison Bradford & Associates Inc.'s holdings in Quanta Services were worth $5,801,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PWR. Brighton Jones LLC purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $298,000. Teacher Retirement System of Texas increased its position in shares of Quanta Services by 40.7% in the fourth quarter. Teacher Retirement System of Texas now owns 1,379 shares of the construction company's stock worth $436,000 after acquiring an additional 399 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $215,000. LPL Financial LLC increased its position in shares of Quanta Services by 24.8% in the fourth quarter. LPL Financial LLC now owns 200,147 shares of the construction company's stock worth $63,256,000 after acquiring an additional 39,764 shares in the last quarter. Finally, Corebridge Financial Inc. increased its position in shares of Quanta Services by 0.4% in the fourth quarter. Corebridge Financial Inc. now owns 37,905 shares of the construction company's stock worth $11,980,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWR. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. UBS Group boosted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday. Truist Financial lowered their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI boosted 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. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $362.25.

Quanta Services Stock Performance

PWR stock traded up $14.84 on Friday, reaching $422.06. 1,370,755 shares of the company were exchanged, compared to its average volume of 1,100,229. The firm has a market capitalization of $62.57 billion, a PE ratio of 68.07, a PEG ratio of 2.80 and a beta of 1.08. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock's fifty day moving average price is $368.62 and its 200 day moving average price is $315.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The business's revenue was up 23.9% on a year-over-year basis. On average, research analysts anticipate 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 was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.45%.

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.