AMI Asset Management Corp Has $55.83 Million Position in Quanta Services, Inc. (NYSE:PWR)

AMI Asset Management Corp trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,641 shares of the construction company's stock after selling 6,926 shares during the quarter. Quanta Services accounts for 3.3% of AMI Asset Management Corp's portfolio, making the stock its 9th largest position. AMI Asset Management Corp owned approximately 0.15% of Quanta Services worth $55,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock worth $144,000 after acquiring an additional 33 shares during the period. Rothschild Investment LLC raised its holdings in shares of Quanta Services by 7.9% during the fourth quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock worth $146,000 after acquiring an additional 34 shares during the period. Wealthspire Advisors LLC raised its holdings in shares of Quanta Services by 1.9% during the fourth quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company's stock worth $643,000 after acquiring an additional 37 shares during the period. Pinion Investment Advisors LLC raised its holdings in shares of Quanta Services by 2.7% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company's stock worth $485,000 after acquiring an additional 40 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in shares of Quanta Services by 0.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company's stock worth $4,256,000 after acquiring an additional 41 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. TD Cowen raised their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Citigroup lowered their price target on shares of 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, Truist Financial lowered their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $2.21 during trading on Friday, hitting $381.68. 3,687,738 shares of the stock were exchanged, compared to its average volume of 972,807. The stock has a market capitalization of $56.59 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.07. The company has a fifty day moving average price of $336.76 and a 200-day moving average price of $307.14. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $382.79. 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 (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Quanta Services Company 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.