Objectivity Squared LLC Buys Shares of 791 Quanta Services, Inc. (NYSE:PWR)

Objectivity Squared LLC acquired a new stake 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 SEC. The institutional investor acquired 791 shares of the construction company's stock, valued at approximately $213,000.

A number of other institutional investors have also recently made changes to their positions in the business. Pallas Capital Advisors LLC raised its position in Quanta Services by 6.5% during the 1st quarter. Pallas Capital Advisors LLC now owns 11,953 shares of the construction company's stock worth $3,038,000 after buying an additional 727 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Quanta Services by 60.0% during the first 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 last quarter. Millington Financial Advisors LLC lifted its position in Quanta Services by 3.0% during the first quarter. Millington Financial Advisors LLC now owns 8,709 shares of the construction company's stock valued at $2,348,000 after purchasing an additional 253 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Quanta Services by 390.1% in the first quarter. Daymark Wealth Partners LLC now owns 61,277 shares of the construction company's stock valued at $15,575,000 after purchasing an additional 48,774 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in Quanta Services by 6.1% during the 1st quarter. CHICAGO TRUST Co NA now owns 1,134 shares of the construction company's stock worth $288,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PWR. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective on the stock. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. DA Davidson increased their price target on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Stifel Nicolaus raised their price target on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $347.35.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $361.20 on Monday. The business's 50 day moving average price is $306.00 and its 200 day moving average price is $303.99. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business 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 18.00% and a net margin of 3.82%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services's payout ratio is currently 6.45%.

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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