Kestra Private Wealth Services LLC Has $1.97 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Kestra Private Wealth Services LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 63.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,756 shares of the construction company's stock after acquiring an additional 3,004 shares during the period. Kestra Private Wealth Services LLC's holdings in Quanta Services were worth $1,971,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Legacy Capital Wealth Partners LLC raised its holdings in shares of Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after purchasing an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after purchasing an additional 37 shares during the period. Kerntke Otto McGlone Wealth Management Group increased its holdings in shares of Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock worth $345,000 after acquiring an additional 39 shares during the period. Quent Capital LLC increased its holdings in shares of Quanta Services by 3.2% in the 1st quarter. Quent Capital LLC now owns 1,362 shares of the construction company's stock worth $346,000 after acquiring an additional 42 shares during the period. Finally, AlTi Global Inc. increased its holdings in shares of Quanta Services by 1.4% in the 4th quarter. AlTi Global Inc. now owns 3,300 shares of the construction company's stock worth $1,112,000 after acquiring an additional 44 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Stifel Nicolaus set a $411.00 price objective on shares of Quanta Services and gave the stock a "buy" rating in a report on Friday, July 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Citigroup decreased their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $359.20.

Quanta Services Stock Up 1.0%

Shares of NYSE PWR traded up $3.91 during mid-day trading on Thursday, reaching $409.02. The company had a trading volume of 509,658 shares, compared to its average volume of 1,427,148. The stock has a fifty day moving average of $365.74 and a two-hundred day moving average of $314.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $60.64 billion, a price-to-earnings ratio of 65.97, a PEG ratio of 2.71 and a beta of 1.08. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $410.79.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm's revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed 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 presently 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.