New England Research & Management Inc. Purchases 1,750 Shares of Quanta Services, Inc. (NYSE:PWR)

New England Research & Management Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,571 shares of the construction company's stock after purchasing an additional 1,750 shares during the quarter. Quanta Services makes up 1.6% of New England Research & Management Inc.'s investment portfolio, making the stock its 15th largest holding. New England Research & Management Inc.'s holdings in Quanta Services were worth $3,195,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 purchasing an additional 161,277 shares during the last quarter. Capital World Investors increased its position 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 purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 99,416 shares during the last quarter. Invesco Ltd. increased its position in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter valued at $544,937,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PWR. TD Cowen lifted their price objective on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Argus set a $375.00 price objective on Quanta Services in a report on Monday, May 5th. Piper Sandler reissued 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. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Price Performance

NYSE PWR traded down $0.79 during trading hours on Friday, hitting $357.86. The company had a trading volume of 796,164 shares, compared to its average volume of 1,505,997. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a 50 day simple moving average of $316.61 and a 200 day simple moving average of $304.39. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm 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 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 (DPR) is presently 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.