Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1,098.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 827 shares of the construction company's stock after buying an additional 758 shares during the period. Wolff Wiese Magana LLC's holdings in Quanta Services were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PWR. Banque Transatlantique SA bought a new position in Quanta Services in the fourth quarter worth approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $34,000. Rakuten Securities Inc. raised its stake in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after buying an additional 113 shares in the last quarter. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services in the 1st quarter valued at $42,000. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PWR shares. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Truist Financial lowered their price objective 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. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. UBS Group set a $413.00 price target on Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Stock Performance

PWR traded up $5.58 on Monday, reaching $366.36. The stock had a trading volume of 923,141 shares, compared to its average volume of 885,935. The business's 50-day moving average price is $328.14 and its two-hundred day moving average price is $305.38. 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 12-month low of $227.08 and a 12-month high of $367.00. The company has a market cap of $54.32 billion, a P/E ratio of 59.09, a price-to-earnings-growth ratio of 2.81 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 for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. 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.