Quanta Services, Inc. (NYSE:PWR) Stock Position Decreased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,466 shares of the construction company's stock after selling 5,278 shares during the period. Quanta Services accounts for approximately 1.2% of Patton Albertson Miller Group LLC's holdings, making the stock its 23rd biggest position. Patton Albertson Miller Group LLC's holdings in Quanta Services were worth $7,998,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PWR. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the 1st quarter worth about $25,000. Quarry LP bought a new position in Quanta Services in the 4th quarter worth about $26,000. OLD Second National Bank of Aurora bought a new position in Quanta Services in the 1st quarter worth about $42,000. Finally, Sound Income Strategies LLC grew its position in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $398.29 on Friday. The company's fifty day moving average is $360.62 and its 200-day moving average is $312.29. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $398.61. The firm has a market cap of $59.05 billion, a price-to-earnings ratio of 64.24, a price-to-earnings-growth ratio of 3.03 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.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS 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 for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the business posted $1.41 EPS. Quanta Services's quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors 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 0.10%. Quanta Services's payout ratio is presently 6.45%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PWR shares. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $352.00 to $400.00 in a research note on Thursday. Finally, Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Ten investment 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $355.75.

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.