2,065 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Pandora Wealth Inc.

Key Points

• Pandora Wealth Inc. has announced a new investment of $525,000 in Quanta Services, Inc. during the first quarter, acquiring 2,065 shares of the construction company.
• Analysts maintain a positive outlook on Quanta Services, with multiple brokerages raising their price targets, resulting in a consensus target price of $392.45.
• Quanta Services recently reported an earnings per share (EPS) of $2.48, surpassing analyst expectations and achieving a revenue of $6.77 billion for the quarter.

Pandora Wealth Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,065 shares of the construction company's stock, valued at approximately $525,000.

Several other large investors also recently added to or reduced their stakes in PWR. Vanguard Group Inc. grew its holdings in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Quanta Services by 18.5% during the fourth quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after purchasing an additional 232,375 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after purchasing an additional 82,981 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 3.8%

PWR stock traded down $14.89 during midday trading on Wednesday, hitting $376.68. The company had a trading volume of 1,195,705 shares, compared to its average volume of 1,424,146. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The stock's 50 day moving average price is $381.71 and its 200 day moving average price is $320.88. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of 58.31, a PEG ratio of 2.28 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is currently 6.19%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PWR shares. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Citigroup boosted their target price on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.