Novem Group purchased a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 859 shares of the construction company's stock, valued at approximately $218,000.
Several other institutional investors have also modified their holdings of PWR. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $298,000. Fisher Asset Management LLC raised its stake in Quanta Services by 40.1% during the fourth quarter. Fisher Asset Management LLC now owns 989 shares of the construction company's stock valued at $313,000 after buying an additional 283 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Quanta Services by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,968 shares of the construction company's stock valued at $3,150,000 after buying an additional 108 shares in the last quarter. Exencial Wealth Advisors LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $216,000. Finally, Assetmark Inc. raised its stake in Quanta Services by 15.0% during the fourth quarter. Assetmark Inc. now owns 6,648 shares of the construction company's stock valued at $2,101,000 after buying an additional 867 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Performance
PWR stock traded down $1.33 on Monday, reaching $385.18. The company's stock had a trading volume of 839,632 shares, compared to its average volume of 1,086,091. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $388.00. The company has a market capitalization of $57.11 billion, a P/E ratio of 62.13, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The firm has a fifty day moving average of $349.35 and a two-hundred day moving average of $308.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during 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 business's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. As a group, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a research report on Friday, May 2nd. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Eight 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $350.95.
Check Out Our Latest Report on Quanta Services
Quanta Services Company Profile
(
Free Report)
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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