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Quanta Services, Inc. (NYSE:PWR) Shares Bought by Avalon Trust Co

Quanta Services logo with Construction background

Key Points

  • Avalon Trust Co increased its stake in Quanta Services by 7.7%, owning approximately 96,878 shares valued at about $24.6 million as of its latest SEC filing.
  • Several Wall Street analysts have upgraded Quanta Services' stock ratings, with CitiGroup raising their price target from $432 to $492 and most analysts rating it as a "Moderate Buy."
  • Quanta Services reported a quarterly earnings per share of $2.48, beating estimates and reflecting year-over-year revenue growth of 21.1%, with total revenue of $6.77 billion.
  • Interested in Quanta Services? Here are five stocks we like better.

Avalon Trust Co raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,878 shares of the construction company's stock after acquiring an additional 6,940 shares during the period. Quanta Services makes up approximately 2.0% of Avalon Trust Co's investment portfolio, making the stock its 12th largest position. Avalon Trust Co owned about 0.07% of Quanta Services worth $24,624,000 as of its most recent SEC filing.

A number of other 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 4th quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services in the 1st quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Quanta Services in the 4th quarter valued at approximately $26,000. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services in the 1st quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Quanta Services in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PWR shares. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Citigroup increased their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $379.32.

View Our Latest Stock Analysis on Quanta Services

Quanta Services Price Performance

Quanta Services stock opened at $395.18 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The company's 50 day moving average is $375.39 and its two-hundred day moving average is $318.93. The firm has a market cap of $58.59 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the business earned $1.90 EPS. The company's revenue was up 21.1% on a year-over-year basis. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

About Quanta Services

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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