SFE Investment Counsel Buys 7,582 Shares of Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 90.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,934 shares of the construction company's stock after acquiring an additional 7,582 shares during the period. SFE Investment Counsel's holdings in Quanta Services were worth $4,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at $544,937,000. Capital World Investors lifted its holdings in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares during the period. GAMMA Investing LLC lifted its position in Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Quanta Services by 42.8% during the 4th 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. Finally, Jennison Associates LLC raised its stake in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after buying an additional 504,540 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

NYSE:PWR traded up $14.84 during trading hours on Friday, hitting $422.06. The company's stock had a trading volume of 1,370,755 shares, compared to its average volume of 1,100,229. 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, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a market capitalization of $62.58 billion, a P/E ratio of 68.07, a PEG ratio of 2.90 and a beta of 1.08. The stock has a fifty day simple moving average of $368.62 and a 200-day simple moving average of $315.83.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The company's revenue for the quarter was up 23.9% on a year-over-year basis. On average, analysts anticipate 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 was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.09%. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on PWR. Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Stifel Nicolaus lifted their price objective on Quanta Services from $363.00 to $411.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $362.25.

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.