Highland Capital Management LLC bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,691 shares of the construction company's stock, valued at approximately $4,751,000.
A number of other hedge funds also recently made changes to their positions in PWR. Banque Transatlantique SA bought a new stake in Quanta Services during the fourth quarter worth approximately $25,000. Quarry LP bought a new stake in Quanta Services during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. increased its stake in Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after acquiring an additional 113 shares during the last quarter. OLD Second National Bank of Aurora bought a new stake in Quanta Services during the first quarter worth approximately $42,000. Finally, Sound Income Strategies LLC increased its stake in Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after acquiring an additional 81 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Quanta Services Stock Up 0.6%
Shares of NYSE:PWR traded up $2.21 on Friday, reaching $381.68. The company had a trading volume of 3,687,738 shares, compared to its average volume of 972,807. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $382.79. The firm's 50 day simple moving average is $336.76 and its 200-day simple moving average is $307.14. The firm has a market capitalization of $56.59 billion, a PE ratio of 61.56, a PEG ratio of 2.95 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the business posted $1.41 EPS. The business's revenue was up 23.9% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. Quanta Services's payout ratio is 6.45%.
Analyst Ratings Changes
A number of research firms have recently commented on PWR. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup cut their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. DA Davidson upped their target price on 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 target price on Quanta Services in a research note on Friday, May 2nd. Finally, B. Riley upped their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $349.65.
Get Our Latest Report on PWR
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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