Gateway Investment Advisers LLC Acquires Shares of 1,081 Quanta Services, Inc. (NYSE:PWR)

Gateway Investment Advisers LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,081 shares of the construction company's stock, valued at approximately $275,000.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Capital World Investors grew its position in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. lifted its holdings in Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new position in Quanta Services in the 4th quarter valued at $544,937,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.7%

Quanta Services stock traded up $2.43 during mid-day trading on Thursday, reaching $358.21. The stock had a trading volume of 509,808 shares, compared to its average volume of 1,509,041. The firm has a market capitalization of $53.11 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock's 50-day simple moving average is $312.08 and its 200-day simple moving average is $304.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services's quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent research reports. TD Cowen boosted their target price on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. Truist Financial dropped their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Citigroup reduced their price target 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. Finally, BMO Capital Markets set a $352.00 price objective on Quanta Services in a report on Friday, May 2nd. Six 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $349.65.

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.