Hudson Valley Investment Advisors Inc. ADV Makes New $2.41 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,469 shares of the construction company's stock, valued at approximately $2,407,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 1.0% in the fourth 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 period. Capital World Investors lifted its holdings 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 buying an additional 891,977 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after buying an additional 99,416 shares during the period. Invesco Ltd. lifted its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after buying an additional 68,565 shares during the period. Finally, Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter valued at $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.5%

NYSE:PWR opened at $361.20 on Friday. The firm has a market capitalization of $53.55 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business's fifty day moving average price is $306.00 and its 200 day moving average price is $304.44.

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

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Finally, 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 report on Friday, April 25th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.35.

Quanta Services Company 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.

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