Pandora Wealth Inc. Makes New $525,000 Investment in Quanta Services, Inc. (NYSE:PWR)

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. bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,065 shares of the construction company's stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SCP Investment LP purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $966,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $213,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PWR. Piper Sandler reiterated an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Stifel Nicolaus boosted their price objective on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Citigroup boosted their price objective on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Evercore ISI boosted their price objective on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Stock Down 0.3%

NYSE PWR opened at $386.05 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $57.53 billion, a P/E ratio of 59.76, a P/E/G ratio of 2.30 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The stock has a 50 day moving average price of $380.24 and a 200-day moving average price of $320.69.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 firm 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 company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Quanta Services 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.

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