J.W. Cole Advisors Inc. Acquires 5,645 Shares of Quanta Services, Inc. (NYSE:PWR)

J.W. Cole Advisors Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 135.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,806 shares of the construction company's stock after acquiring an additional 5,645 shares during the period. J.W. Cole Advisors Inc.'s holdings in Quanta Services were worth $2,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the first quarter worth $25,000. Quarry LP bought a new stake in Quanta Services during the fourth quarter worth $26,000. OLD Second National Bank of Aurora bought a new stake in Quanta Services during the first quarter worth $42,000. Finally, Sound Income Strategies LLC grew its holdings 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 buying an additional 81 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.8%

NYSE:PWR opened at $400.13 on Tuesday. The company has a market cap of $59.32 billion, a P/E ratio of 64.54, a P/E/G ratio of 2.77 and a beta of 1.08. The stock's fifty day moving average price is $362.17 and its two-hundred day moving average price is $312.85. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $405.43. 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 posted its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business's quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm 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 annualized dividend and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWR. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday, July 10th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and upped their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. UBS Group set a $413.00 price target on Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.75.

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.

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