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

Choreo LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,431 shares of the construction company's stock after selling 952 shares during the period. Choreo LLC's holdings in Quanta Services were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC boosted its stake in Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after acquiring an additional 36 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after acquiring an additional 37 shares during the last quarter. Kerntke Otto McGlone Wealth Management Group increased its holdings in shares of Quanta Services by 3.0% during the first 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 in the last quarter. Quent Capital LLC boosted 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. grew its position in 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. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Citigroup decreased their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group lifted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday. 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 report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.25.

Quanta Services Trading Up 3.6%

NYSE:PWR traded up $14.84 on Friday, hitting $422.06. The stock had a trading volume of 1,370,755 shares, compared to its average volume of 1,100,229. The stock has a market cap of $62.57 billion, a price-to-earnings ratio of 68.07, a PEG ratio of 2.80 and a beta of 1.08. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $367.08 and a two-hundred day moving average price of $315.10. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Quanta Services's revenue was up 23.9% compared to the same quarter last year. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.09%. 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.