Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,199 shares of the construction company's stock after acquiring an additional 2,376 shares during the quarter. Wealthfront Advisers LLC's holdings in Quanta Services were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PWR. Norges Bank purchased a new position in Quanta Services during the 4th quarter worth $544,937,000. Capital World Investors boosted its holdings in shares of Quanta Services by 14.1% in the 4th 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after buying an additional 811,797 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after buying an additional 506,722 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock worth $174,016,000 after buying an additional 373,429 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 1.4%

PWR stock traded up $5.63 during midday trading on Friday, reaching $403.53. The company's stock had a trading volume of 1,058,737 shares, compared to its average volume of 1,438,548. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a fifty day simple moving average of $360.62 and a two-hundred day simple moving average of $312.29. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $405.43. The firm has a market capitalization of $59.83 billion, a price-to-earnings ratio of 65.09, a PEG ratio of 3.03 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 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 business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The firm's revenue was up 23.9% on a year-over-year basis. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders 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 0.10%. Quanta Services's dividend payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PWR. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $352.00 to $400.00 in a report on Thursday. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. B. Riley boosted their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Stifel Nicolaus set a $411.00 price objective on Quanta Services and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Truist Financial lowered their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $355.75.

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.