Charles Schwab Investment Management Inc. Has $224.52 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Quanta Services by 1.2%, owning 883,303 shares valued at approximately $224.5 million by the end of the first quarter.
• Quanta Services reported a quarterly earnings of $2.48 EPS and revenue of $6.77 billion, both exceeding consensus estimates and showing a 21.1% year-over-year revenue growth.
• Institutional investors own 90.49% of Quanta Services' stock, indicating a strong institutional interest in the company amidst its recent positive earnings performance.

Charles Schwab Investment Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,303 shares of the construction company's stock after acquiring an additional 10,427 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Quanta Services worth $224,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PWR. SCP Investment LP purchased a new position in shares of Quanta Services during the first quarter worth about $966,000. Brighton Jones LLC acquired a new stake in Quanta Services in the fourth quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC lifted its position in Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the period. Farther Finance Advisors LLC lifted its position in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the period. Finally, Objectivity Squared LLC acquired a new stake in Quanta Services in the first quarter valued at about $213,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock traded up $7.43 during trading on Tuesday, hitting $391.55. 858,704 shares of the stock traded hands, compared to its average volume of 1,259,859. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The stock has a market cap of $58.34 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 2.28 and a beta of 1.10. The company has a 50 day simple moving average of $381.71 and a 200 day simple moving average of $320.88. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm posted $1.90 EPS. The firm's quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given 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 of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is currently 6.19%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. TD Cowen lifted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Roth Capital reissued a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Citigroup boosted their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Truist Financial upped their target price on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $392.45.

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.