Providence Capital Advisors LLC Purchases Shares of 14,614 Quanta Services, Inc. $PWR

Key Points

• Providence Capital Advisors LLC has acquired a new stake in Quanta Services, Inc., purchasing 14,614 shares valued at approximately $3.7 million during the first quarter.
• Quanta Services has recently seen significant movements in institutional ownership, with firms like Capital World Investors increasing their stakes by 14.1%, now owning shares worth over $2.28 billion.
• Analysts have set a strong price outlook for Quanta Services, with a consensus rating of **"Moderate Buy"** and an average price target of $392.45, indicating positive market sentiment.

Providence Capital Advisors LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,614 shares of the construction company's stock, valued at approximately $3,715,000.

Several other large investors have also recently added to or reduced their stakes in PWR. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter worth $298,000. Sagespring Wealth Partners LLC bought a new position in Quanta Services during the 4th quarter worth $212,000. Mariner LLC increased its position in shares of Quanta Services by 26.6% in the fourth quarter. Mariner LLC now owns 35,216 shares of the construction company's stock worth $11,130,000 after purchasing an additional 7,392 shares during the period. Guggenheim Capital LLC increased its position in shares of Quanta Services by 182.3% in the fourth quarter. Guggenheim Capital LLC now owns 5,700 shares of the construction company's stock worth $1,801,000 after purchasing an additional 3,681 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Quanta Services in the fourth quarter worth $640,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 0.6%

Shares of NYSE:PWR traded up $2.45 during midday trading on Friday, hitting $379.96. 1,436,415 shares of the stock were exchanged, compared to its average volume of 1,331,798. The stock has a market capitalization of $56.62 billion, a price-to-earnings ratio of 58.82, a P/E/G ratio of 2.26 and a beta of 1.10. 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 business's 50-day moving average price is $382.86 and its 200 day moving average price is $322.73. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The firm's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is currently 6.19%.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. Stifel Nicolaus raised their price target on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Truist Financial raised their price target on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, DA Davidson raised their price target on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has an average 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.