Legacy CG LLC Has $4.12 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Legacy CG LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,191 shares of the construction company's stock after buying an additional 2,866 shares during the period. Legacy CG LLC's holdings in Quanta Services were worth $4,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canvas Wealth Advisors LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at approximately $655,000. Park Place Capital Corp grew its position in Quanta Services by 49.4% in the first quarter. Park Place Capital Corp now owns 6,656 shares of the construction company's stock valued at $1,692,000 after acquiring an additional 2,200 shares during the period. Board of the Pension Protection Fund acquired a new position in Quanta Services during the first quarter worth $305,000. PDS Planning Inc lifted its holdings in shares of Quanta Services by 12.2% during the first quarter. PDS Planning Inc now owns 895 shares of the construction company's stock valued at $227,000 after acquiring an additional 97 shares during the period. Finally, Balefire LLC boosted its stake in shares of Quanta Services by 62.0% in the 1st quarter. Balefire LLC now owns 1,395 shares of the construction company's stock valued at $355,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 1.6%

NYSE:PWR opened at $380.04 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 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 $381.12. The stock's fifty day simple moving average is $334.47 and its 200-day simple moving average is $306.72. The firm has a market capitalization of $56.34 billion, a P/E ratio of 61.30, a P/E/G ratio of 2.91 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last issued its 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 firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company's revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PWR shares. UBS Group set a $413.00 target price on shares of Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research note on Friday, May 2nd. Stifel Nicolaus boosted their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup reduced their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $349.65.

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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