Nicholas Hoffman & Company LLC. Purchases New Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Nicholas Hoffman & Company LLC recently acquired a new position in Quanta Services, Inc., purchasing 882 shares valued at approximately $224,000.
• Quanta Services reported a 21.1% increase in revenue year-over-year, with earnings per share of $2.48, surpassing analyst expectations.
• Analysts have a consensus rating of "Moderate Buy" for Quanta Services, with a price target averaging around $390.18.

Nicholas Hoffman & Company LLC. bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 882 shares of the construction company's stock, valued at approximately $224,000.

A number of other large investors have also modified their holdings of PWR. Capital World Investors grew its position in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the period. GAMMA Investing LLC lifted its stake in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Bank of America Corp DE lifted its stake in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after buying an additional 506,722 shares during the period. Jennison Associates LLC lifted its stake in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after buying an additional 504,540 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR traded down $3.38 on Monday, reaching $382.77. The stock had a trading volume of 256,478 shares, compared to its average volume of 1,425,214. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The firm has a 50-day moving average of $380.24 and a 200-day moving average of $320.20. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $57.04 billion, a price-to-earnings ratio of 59.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWR. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. DA Davidson raised their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. TD Cowen lifted their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Truist Financial lifted their target price on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Citigroup lifted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $392.45.

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.