Geneos Wealth Management Inc. Purchases 4,561 Shares of Quanta Services, Inc. (NYSE:PWR)

Geneos Wealth Management Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 109.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,728 shares of the construction company's stock after buying an additional 4,561 shares during the period. Geneos Wealth Management Inc.'s holdings in Quanta Services were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Legacy Capital Wealth Partners LLC lifted its holdings 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 valued at $277,000 after purchasing an additional 36 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted 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 valued at $365,000 after purchasing an additional 37 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group lifted its holdings in shares of Quanta Services by 3.0% during the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock valued at $345,000 after purchasing an additional 39 shares in the last quarter. Quent Capital LLC lifted its holdings 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. Finally, AlTi Global Inc. lifted its holdings in shares of Quanta Services by 1.4% during the 4th quarter. AlTi Global Inc. now owns 3,300 shares of the construction company's stock valued at $1,112,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PWR. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research report on Monday. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Argus set a $375.00 target price on Quanta Services in a research report on Monday, May 5th. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average target price of $379.32.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $10.95 during midday trading on Friday, hitting $395.18. 2,094,000 shares of the company's stock were exchanged, compared to its average volume of 1,116,995. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company's 50 day moving average price is $375.39 and its 200 day moving average price is $319.00. The firm has a market capitalization of $58.59 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.79 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's payout ratio is 6.45%.

About Quanta Services

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.