Commonwealth Equity Services LLC Purchases 7,868 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Quanta Services by 12.7%, acquiring an additional 7,868 shares in the first quarter, bringing the total to 69,846 shares valued at approximately $17.75 million.
• Quanta Services reported $2.48 EPS for the last quarter, surpassing analysts' expectations and demonstrating a 21.1% increase in revenue year-over-year, totaling $6.77 billion.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend of $0.40 and a yield of 0.1%, with a payout ratio of 6.19%.

Commonwealth Equity Services LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,846 shares of the construction company's stock after purchasing an additional 7,868 shares during the period. Commonwealth Equity Services LLC's holdings in Quanta Services were worth $17,753,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in Quanta Services during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the 1st quarter worth $25,000. Quarry LP acquired a new position in Quanta Services during the 4th quarter worth $26,000. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services in the 1st quarter worth about $42,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Quanta Services in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.7%

Quanta Services stock traded up $2.67 during trading hours on Tuesday, hitting $386.79. The company had a trading volume of 233,872 shares, compared to its average volume of 1,421,717. The firm has a market capitalization of $57.64 billion, a P/E ratio of 59.87, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm's fifty day moving average is $381.01 and its 200-day moving average is $320.39. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for 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 revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PWR shares. Citigroup raised their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. UBS Group lifted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Truist Financial boosted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, 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.