Peregrine Asset Advisers Inc. Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Peregrine Asset Advisers Inc. raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,477 shares of the construction company's stock after acquiring an additional 3,611 shares during the quarter. Quanta Services makes up approximately 1.9% of Peregrine Asset Advisers Inc.'s portfolio, making the stock its 13th biggest position. Peregrine Asset Advisers Inc.'s holdings in Quanta Services were worth $4,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 77.9% in the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after buying an additional 81 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PWR shares. UBS Group set a $413.00 target price on Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Truist Financial decreased their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $359.20.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $4.00 during trading on Tuesday, reaching $394.66. The stock had a trading volume of 1,120,764 shares, compared to its average volume of 1,433,083. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $405.43. 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 stock has a market cap of $58.51 billion, a PE ratio of 63.65, a P/E/G ratio of 2.77 and a beta of 1.08. The firm's 50 day moving average price is $362.17 and its two-hundred day moving average price is $312.85.

Quanta Services (NYSE:PWR - Get Free Report) last announced its 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. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is presently 6.45%.

About Quanta Services

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.