Quanta Services, Inc. (NYSE:PWR) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,035 shares of the construction company's stock after selling 2,613 shares during the period. Assetmark Inc.'s holdings in Quanta Services were worth $1,026,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Legacy Capital Wealth Partners LLC boosted its stake in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after purchasing an additional 36 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after acquiring an additional 37 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group raised its holdings in Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock valued at $345,000 after acquiring an additional 39 shares during the last quarter. Quent Capital LLC lifted its stake in Quanta Services by 3.2% in the 1st quarter. Quent Capital LLC now owns 1,362 shares of the construction company's stock worth $346,000 after purchasing an additional 42 shares in the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of Quanta Services by 1.4% during the 4th quarter. AlTi Global Inc. now owns 3,300 shares of the construction company's stock worth $1,112,000 after purchasing an additional 44 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Argus set a $375.00 price target on shares of Quanta Services in a research report on Monday, May 5th. Roth Capital restated a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research report on Tuesday. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Finally, Citigroup restated a "buy" rating and set a $492.00 price target (up previously from $432.00) on shares of Quanta Services in a report on Monday. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $375.23.

Quanta Services Trading Down 1.6%

PWR opened at $404.73 on Friday. The business has a fifty day moving average price of $374.19 and a 200 day moving average price of $318.48. 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 12 month low of $227.08 and a 12 month high of $424.94. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 65.28, a PEG ratio of 2.83 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter last year, the company earned $1.90 earnings per share. The firm's revenue was up 21.1% compared to the same quarter last year. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 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.

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