Quanta Services, Inc. $PWR Shares Newly Purchased by Harold Davidson & Associates Inc.

Key Points

• Harold Davidson & Associates purchased 7,068 Quanta Services shares worth approximately $4.54 million, making PWR its 13th-largest holding. Institutional investors collectively own 90.49% of the company.
• Quanta Services reported strong quarterly results, with EPS of $6.06 versus the $5.02 consensus estimate and revenue of $12.01 billion, up 57.4% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $763.81, compared with shares opening at $619.44.

Harold Davidson & Associates Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,068 shares of the construction company's stock, valued at approximately $4,541,000. Quanta Services makes up approximately 1.8% of Harold Davidson & Associates Inc.'s holdings, making the stock its 13th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company's stock valued at $4,739,164,000 after purchasing an additional 296,893 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Quanta Services by 5.4% during the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company's stock worth $1,891,215,000 after buying an additional 175,184 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Quanta Services by 7.1% during the 1st quarter. Royal Bank of Canada now owns 1,264,827 shares of the construction company's stock worth $694,415,000 after buying an additional 83,363 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Quanta Services by 18.3% during the 1st quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company's stock worth $551,170,000 after buying an additional 155,529 shares during the last quarter. Finally, Amundi boosted its stake in Quanta Services by 10.3% in the first quarter. Amundi now owns 580,718 shares of the construction company's stock valued at $318,826,000 after buying an additional 54,237 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $619.44 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. The firm's fifty day simple moving average is $632.35 and its two-hundred day simple moving average is $624.04. Quanta Services, Inc. has a 12 month low of $408.36 and a 12 month high of $788.75. The stock has a market capitalization of $93.13 billion, a P/E ratio of 56.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $1.04. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The business had revenue of $12.01 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the firm earned $3.33 earnings per share. Quanta Services's revenue was up 57.4% on a year-over-year basis. As a group, analysts predict that Quanta Services, Inc. will post 15.36 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 3.99%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley cut shares of Quanta Services to an "underweight" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group reaffirmed a "buy" rating on shares of Quanta Services in a research note on Monday, August 17th. Guggenheim upgraded Quanta Services from a "neutral" rating to a "buy" rating and set a $800.00 price objective on the stock in a research report on Friday, July 31st. Finally, Argus set a $800.00 target price on Quanta Services in a report on Wednesday, August 5th. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $763.81.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.

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