Novem Group Takes Position in Quanta Services, Inc. (NYSE:PWR)

Novem Group purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 859 shares of the construction company's stock, valued at approximately $218,000.

Several other institutional investors have also bought and sold shares of PWR. Allstate Corp purchased a new position in shares of Quanta Services during the 4th quarter valued at $1,357,000. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter valued at about $298,000. Farther Finance Advisors LLC increased its stake in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after purchasing an additional 2,479 shares during the period. Finally, Objectivity Squared LLC bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.7%

NYSE PWR traded down $2.83 during trading hours on Monday, hitting $383.68. 502,231 shares of the company were exchanged, compared to its average volume of 1,475,919. The company has a 50 day moving average of $347.47 and a two-hundred day moving average of $308.41. 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 52-week low of $227.08 and a 52-week high of $388.00. The firm has a market cap of $56.88 billion, a price-to-earnings ratio of 61.88, a PEG ratio of 3.01 and a beta of 1.08.

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 for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company earned $1.41 EPS. The business's quarterly revenue was up 23.9% on a year-over-year basis. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date is 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 presently 6.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. TD Cowen boosted their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. 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. Argus set a $375.00 target price on Quanta Services in a report on Monday, May 5th. Finally, Truist Financial dropped their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $350.95.

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.