Brookstone Capital Management Grows Position in Quanta Services, Inc. (NYSE:PWR)

Brookstone Capital Management lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,825 shares of the construction company's stock after acquiring an additional 3,843 shares during the quarter. Brookstone Capital Management's holdings in Quanta Services were worth $8,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allstate Corp bought a new stake in Quanta Services in the fourth quarter valued at about $1,357,000. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter valued at about $298,000. Farther Finance Advisors LLC increased its holdings in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new position in Quanta Services in the first quarter valued at about $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 2.1%

PWR stock traded down $7.96 during midday trading on Tuesday, hitting $377.84. The stock had a trading volume of 973,886 shares, compared to its average volume of 1,474,043. The firm has a market cap of $56.02 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The business has a 50-day moving average of $349.35 and a two-hundred day moving average of $308.81. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $388.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the firm posted $1.41 earnings per share. Quanta Services's revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given 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 of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

A number of research analysts have issued reports on PWR shares. B. Riley boosted their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus lifted their price objective on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Citigroup dropped their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $350.95.

Quanta Services 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.