Burr Financial Services LLC Sells 5,651 Shares of Quanta Services, Inc. (NYSE:PWR)

Burr Financial Services LLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 61.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,511 shares of the construction company's stock after selling 5,651 shares during the period. Quanta Services comprises approximately 0.7% of Burr Financial Services LLC's holdings, making the stock its 15th largest position. Burr Financial Services LLC's holdings in Quanta Services were worth $892,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Kestra Private Wealth Services LLC boosted its position in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Allstate Corp acquired a new stake in shares of Quanta Services during the 4th quarter worth about $1,357,000. SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services during the fourth quarter worth approximately $1,754,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at $298,000. Finally, Clear Creek Financial Management LLC grew its holdings in Quanta Services by 231.3% in the fourth quarter. Clear Creek Financial Management LLC now owns 2,796 shares of the construction company's stock valued at $884,000 after purchasing an additional 1,952 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Argus set a $375.00 price objective on Quanta Services in a report on Monday, May 5th. TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Evercore ISI lifted their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research note on Friday, May 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Six 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $344.85.

Quanta Services Trading Up 3.3%

Shares of PWR traded up $11.29 during midday trading on Tuesday, hitting $356.82. The stock had a trading volume of 1,133,626 shares, compared to its average volume of 1,548,859. The business has a 50-day simple moving average of $297.68 and a two-hundred day simple moving average of $303.25. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The firm has a market cap of $52.90 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business's quarterly revenue was up 23.9% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services's payout ratio is 6.45%.

About Quanta Services

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.