New York State Common Retirement Fund Has $29.34 Million Stake in Quanta Services, Inc. (NYSE:PWR)

New York State Common Retirement Fund lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,439 shares of the construction company's stock after purchasing an additional 14,967 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Quanta Services worth $29,342,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PWR. Mutual of America Capital Management LLC boosted its stake in shares of Quanta Services by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 21,136 shares of the construction company's stock worth $5,372,000 after acquiring an additional 389 shares in the last quarter. Realta Investment Advisors boosted its stake in Quanta Services by 32.5% during the 1st quarter. Realta Investment Advisors now owns 2,087 shares of the construction company's stock valued at $530,000 after purchasing an additional 512 shares during the period. Ballentine Partners LLC lifted its position in shares of Quanta Services by 7.6% in the 1st quarter. Ballentine Partners LLC now owns 3,003 shares of the construction company's stock worth $763,000 after acquiring an additional 212 shares during the period. Fort Sheridan Advisors LLC lifted its position in shares of Quanta Services by 11.4% in the 1st quarter. Fort Sheridan Advisors LLC now owns 4,532 shares of the construction company's stock worth $1,152,000 after acquiring an additional 464 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $6,587,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 1.3%

Shares of NYSE:PWR traded up $5.25 during midday trading on Friday, hitting $403.15. The company had a trading volume of 569,133 shares, compared to its average volume of 1,434,771. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $405.43. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The stock has a market cap of $59.77 billion, a price-to-earnings ratio of 65.02, a PEG ratio of 3.03 and a beta of 1.08. The firm has a fifty day simple moving average of $360.62 and a 200 day simple moving average of $312.29.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results 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. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates 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 for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. Quanta Services's dividend payout ratio (DPR) is 6.45%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. B. Riley raised their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. 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. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Piper Sandler reaffirmed 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. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $355.75.

Quanta Services 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.