Prevail Innovative Wealth Advisors LLC Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Prevail Innovative Wealth Advisors LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 130.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,238 shares of the construction company's stock after buying an additional 14,304 shares during the quarter. Quanta Services comprises about 1.7% of Prevail Innovative Wealth Advisors LLC's investment portfolio, making the stock its 9th biggest position. Prevail Innovative Wealth Advisors LLC's holdings in Quanta Services were worth $6,415,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $25,000. Quarry LP purchased a new position in Quanta Services during the fourth quarter worth about $26,000. OLD Second National Bank of Aurora acquired a new stake in Quanta Services in the 1st quarter worth about $42,000. Sound Income Strategies LLC grew its holdings in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after buying an additional 81 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Quanta Services by 181.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 186 shares of the construction company's stock worth $59,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PWR shares. DA Davidson upped their price target on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday, July 10th. Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Citigroup reduced their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $353.35.

Quanta Services Stock Performance

NYSE:PWR traded down $0.34 during trading hours on Tuesday, reaching $386.66. 606,120 shares of the stock were exchanged, compared to its average volume of 1,449,320. The stock has a market capitalization of $57.33 billion, a P/E ratio of 62.36, a P/E/G ratio of 2.98 and a beta of 1.08. The firm has a 50 day simple moving average of $355.23 and a 200-day simple moving average of $310.23. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $390.10.

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 the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the business posted $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services 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.