BNC Wealth Management LLC Acquires 927 Shares of Quanta Services, Inc. (NYSE:PWR)

BNC Wealth Management LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,978 shares of the construction company's stock after buying an additional 927 shares during the period. Quanta Services makes up approximately 1.3% of BNC Wealth Management LLC's holdings, making the stock its 27th largest holding. BNC Wealth Management LLC's holdings in Quanta Services were worth $3,553,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the fourth quarter worth about $25,000. Quarry LP purchased a new position in shares of Quanta Services in the fourth quarter worth about $26,000. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Quanta Services in the fourth quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.2%

Shares of PWR stock traded down $0.79 during midday trading on Friday, reaching $357.86. 796,164 shares of the stock were exchanged, compared to its average volume of 1,505,997. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company's 50 day moving average is $316.61 and its two-hundred day moving average is $304.39. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market cap of $53.06 billion, a PE ratio of 59.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping 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 period in the previous year, the firm posted $1.41 EPS. The business's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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 given a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PWR shares. DA Davidson boosted their price target on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Finally, Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Six research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $349.65.

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.