Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Strong Tower Advisory Services

Strong Tower Advisory Services lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,573 shares of the construction company's stock after buying an additional 5,554 shares during the quarter. Quanta Services makes up about 1.6% of Strong Tower Advisory Services' holdings, making the stock its 23rd largest position. Strong Tower Advisory Services' holdings in Quanta Services were worth $6,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter valued at about $298,000. Union Bancaire Privee UBP SA acquired a new position in Quanta Services in the 4th quarter valued at about $46,364,000. Clear Creek Financial Management LLC raised its stake in Quanta Services by 231.3% in the 4th quarter. Clear Creek Financial Management LLC now owns 2,796 shares of the construction company's stock valued at $884,000 after purchasing an additional 1,952 shares during the last quarter. Independence Bank of Kentucky raised its stake in Quanta Services by 20.3% in the 4th quarter. Independence Bank of Kentucky now owns 1,185 shares of the construction company's stock valued at $375,000 after purchasing an additional 200 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Quanta Services by 2.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,813 shares of the construction company's stock valued at $1,521,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.7%

Shares of Quanta Services stock traded up $2.40 on Thursday, hitting $361.51. 340,326 shares of the company's stock traded hands, compared to its average volume of 1,532,958. The stock has a market cap of $53.60 billion, a P/E ratio of 59.95, a PEG ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $301.84 and its 200 day moving average is $304.01. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released 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 company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business's revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared 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%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus lifted their price target on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Citigroup lowered their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Finally, Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.35.

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.