Quaero Capital S.A. lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 70.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,098 shares of the construction company's stock after selling 5,030 shares during the quarter. Quaero Capital S.A.'s holdings in Quanta Services were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Banque Transatlantique SA acquired a new stake in Quanta Services in the fourth quarter worth about $25,000. Quarry LP bought a new stake in shares of Quanta Services during the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its stake in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after acquiring an additional 113 shares during the period. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services in the first quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after acquiring an additional 81 shares during the period. Institutional investors own 90.49% of the company's stock.
Quanta Services Stock Up 0.6%
Shares of PWR stock traded up $2.21 on Friday, reaching $381.68. 3,687,738 shares of the company's stock traded hands, compared to its average volume of 1,493,133. The company has a market capitalization of $56.59 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $382.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The business's 50 day moving average price is $334.47 and its two-hundred day moving average price is $306.72.
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, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the company posted $1.41 EPS. Quanta Services's revenue was up 23.9% on a year-over-year basis. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PWR. Evercore ISI upped 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. UBS Group set a $413.00 target price on Quanta Services and gave the company a "buy" rating in a research note on Thursday, June 12th. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research report on Friday, May 2nd. The Goldman Sachs Group restated a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Citigroup dropped their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Six investment 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $349.65.
Get Our Latest Report on PWR
About Quanta Services
(
Free Report)
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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