Kovack Advisors Inc. Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Kovack Advisors Inc. increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,550 shares of the construction company's stock after buying an additional 974 shares during the quarter. Kovack Advisors Inc.'s holdings in Quanta Services were worth $2,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Norges Bank purchased a new stake in Quanta Services in the 4th quarter worth about $544,937,000. Capital World Investors increased its holdings in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its holdings in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Bank of America Corp DE increased its holdings in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after acquiring an additional 504,540 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PWR shares. JPMorgan Chase & Co. upped their target price on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. B. Riley increased their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research report on Wednesday, July 2nd. Finally, Truist Financial dropped their price objective 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. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $364.52.

Quanta Services Stock Performance

Quanta Services stock traded down $10.03 during midday trading on Monday, hitting $411.65. The company's stock had a trading volume of 911,432 shares, compared to its average volume of 1,427,068. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The company has a 50-day moving average price of $368.62 and a two-hundred day moving average price of $315.86. The company has a market cap of $61.03 billion, a price-to-earnings ratio of 66.40, a PEG ratio of 2.90 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the prior year, the company earned $1.41 EPS. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors 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 dividend payout ratio is currently 6.45%.

About Quanta Services

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.