Whalen Wealth Management Inc. lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 104.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,517 shares of the construction company's stock after buying an additional 1,797 shares during the period. Whalen Wealth Management Inc.'s holdings in Quanta Services were worth $894,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Allstate Corp bought a new position in shares of Quanta Services during the 4th quarter valued at about $1,357,000. Brighton Jones LLC bought a new position in Quanta Services in the fourth quarter valued at approximately $298,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Quanta Services during the fourth quarter worth $46,364,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Performance
NYSE:PWR traded up $6.83 on Tuesday, hitting $372.59. The company's stock had a trading volume of 938,598 shares, compared to its average volume of 932,096. 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 one year low of $227.08 and a one year high of $373.30. The stock has a fifty day moving average of $330.13 and a two-hundred day moving average of $305.84. The firm has a market capitalization of $55.24 billion, a P/E ratio of 60.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the firm posted $1.41 EPS. The company's quarterly revenue was up 23.9% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.45%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on PWR shares. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research note on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Citigroup decreased their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, B. Riley raised their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $349.65.
Read Our Latest Report on Quanta Services
About Quanta Services
(
Free Report)
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.
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