Princeton Global Asset Management LLC Purchases 1,390 Shares of Quanta Services, Inc. (NYSE:PWR)

Princeton Global Asset Management LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,621 shares of the construction company's stock after purchasing an additional 1,390 shares during the quarter. Quanta Services accounts for 1.8% of Princeton Global Asset Management LLC's investment portfolio, making the stock its 13th biggest position. Princeton Global Asset Management LLC's holdings in Quanta Services were worth $9,054,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after acquiring an additional 2,184 shares during the period. Allstate Corp bought a new position in shares of Quanta Services in the 4th quarter worth about $1,357,000. Brighton Jones LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $298,000. Quaero Capital S.A. raised its stake in Quanta Services by 198.2% during the fourth quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company's stock valued at $2,253,000 after buying an additional 4,738 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Quanta Services by 3.9% in the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock worth $151,659,000 after purchasing an additional 18,206 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PWR. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Finally, Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $347.35.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $361.20 on Friday. 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. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The stock has a 50 day moving average price of $306.00 and a 200-day moving average price of $304.44.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The company's quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 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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