Kesler Norman & Wride LLC Buys Shares of 948 Quanta Services, Inc. (NYSE:PWR)

Kesler Norman & Wride LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 948 shares of the construction company's stock, valued at approximately $242,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 1.0% during 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 period. Capital World Investors lifted its holdings in shares of Quanta Services by 14.1% during the 4th 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% during the 4th 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. raised its holdings in Quanta Services by 3.7% in 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 period. Finally, Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at $544,937,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Truist Financial lowered their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Stifel Nicolaus raised their price target on Quanta Services from $363.00 to $411.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler reissued 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. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $353.35.

Quanta Services Trading Up 0.9%

PWR opened at $383.63 on Friday. The stock has a 50-day moving average of $355.23 and a 200 day moving average of $310.51. 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, Inc. has a 12 month low of $227.08 and a 12 month high of $388.00. The firm has a market cap of $56.88 billion, a P/E ratio of 61.88, a P/E/G ratio of 2.96 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's payout ratio is currently 6.45%.

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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