Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1,068.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,781 shares of the construction company's stock after acquiring an additional 60,151 shares during the period. Sequoia Financial Advisors LLC's holdings in Quanta Services were worth $16,720,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PWR. Larson Financial Group LLC boosted its stake in shares of Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock worth $144,000 after acquiring an additional 33 shares in the last quarter. Pinion Investment Advisors LLC raised its holdings in Quanta Services by 2.7% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company's stock worth $485,000 after purchasing an additional 40 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in Quanta Services by 0.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company's stock worth $4,256,000 after purchasing an additional 41 shares in the last quarter. Quent Capital LLC grew its holdings in Quanta Services by 3.2% in the first quarter. Quent Capital LLC now owns 1,362 shares of the construction company's stock valued at $346,000 after purchasing an additional 42 shares during the last quarter. Finally, Tower Wealth Partners Inc. increased its position in shares of Quanta Services by 3.8% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,165 shares of the construction company's stock valued at $368,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Quanta Services stock opened at $380.04 on Friday. 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 company has a market cap of $56.34 billion, a price-to-earnings ratio of 61.30, a PEG ratio of 2.91 and a beta of 1.07. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $381.12. The firm has a 50 day moving average price of $334.47 and a 200 day moving average price of $306.72.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PWR. DA Davidson increased their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus raised their price target on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $349.65.

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.

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