Avantax Advisory Services Inc. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Avantax Advisory Services Inc. raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,111 shares of the construction company's stock after purchasing an additional 1,105 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Quanta Services were worth $4,095,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP acquired a new position in shares of Quanta Services in the fourth quarter worth $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the first quarter worth $25,000. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at $42,000. Finally, Sound Income Strategies LLC boosted its holdings in 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 purchasing an additional 81 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock traded down $12.75 during trading hours on Friday, hitting $393.38. The stock had a trading volume of 1,222,169 shares, compared to its average volume of 1,441,268. The stock's 50 day moving average is $374.19 and its 200 day moving average is $318.48. The firm has a market capitalization of $58.32 billion, a PE ratio of 63.45, a PEG ratio of 2.83 and a beta of 1.08. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. 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 issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.45%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. DA Davidson lifted their price target on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Eleven equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $375.23.

Quanta Services Company 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.