Guyasuta Investment Advisors Inc. Buys 3,184 Shares of Quanta Services, Inc. (NYSE:PWR)

Guyasuta Investment Advisors Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,269 shares of the construction company's stock after buying an additional 3,184 shares during the period. Quanta Services accounts for approximately 1.2% of Guyasuta Investment Advisors Inc.'s investment portfolio, making the stock its 22nd biggest position. Guyasuta Investment Advisors Inc.'s holdings in Quanta Services were worth $18,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PWR. Norges Bank acquired a new position in Quanta Services during the fourth quarter worth $544,937,000. Capital World Investors increased its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanta Services in the fourth quarter valued at $203,068,000. Finally, Bank of America Corp DE increased its holdings in shares of Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PWR. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Truist Financial decreased their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. TD Cowen upped their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $349.65.

Quanta Services Price Performance

Quanta Services stock traded up $5.58 during trading hours on Monday, reaching $366.36. 923,141 shares of the stock were exchanged, compared to its average volume of 885,935. The company has a market cap of $54.32 billion, a P/E ratio of 59.09, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $367.00. The stock has a 50 day moving average of $328.14 and a two-hundred day moving average of $305.38.

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, topping analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business 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 $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is currently 6.45%.

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.