Norris Perne & French LLP MI Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Norris Perne & French LLP MI lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,943 shares of the construction company's stock after selling 1,529 shares during the period. Norris Perne & French LLP MI owned about 0.05% of Quanta Services worth $19,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $298,000. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the 4th quarter worth $46,364,000. Principal Securities Inc. increased its holdings in Quanta Services by 9.0% in the 4th quarter. Principal Securities Inc. now owns 2,259 shares of the construction company's stock worth $714,000 after acquiring an additional 187 shares in the last quarter. Allworth Financial LP raised its position in Quanta Services by 27.2% during the fourth quarter. Allworth Financial LP now owns 1,842 shares of the construction company's stock worth $582,000 after acquiring an additional 394 shares during the period. Finally, Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter valued at $27,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE:PWR opened at $360.48 on Thursday. The company's 50-day moving average is $322.55 and its two-hundred day moving average is $305.27. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $367.00. 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 firm has a market capitalization of $53.44 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.79 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating 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 firm's quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is currently 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research report on Friday, May 2nd. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. DA Davidson lifted their price target on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. UBS Group set a $413.00 price target on Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, TD Cowen raised their price objective on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $349.65.

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.

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