Rathbones Group PLC Buys 1,075 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Rathbones Group PLC increased its stake in Quanta Services by 13.8%, acquiring an additional 1,075 shares, bringing its total holdings to 8,844 shares valued at approximately $2.25 million.
• Quanta Services reported earnings of $2.48 per share for the last quarter, surpassing analysts' estimates, with revenue rising 21.1% year-over-year to $6.77 billion.
• The company announced a quarterly dividend of $0.10 per share, with a 0.1% dividend yield, indicative of its ongoing commitment to returning value to shareholders.

Rathbones Group PLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,844 shares of the construction company's stock after acquiring an additional 1,075 shares during the quarter. Rathbones Group PLC's holdings in Quanta Services were worth $2,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC purchased a new position in Quanta Services in the 4th quarter worth $298,000. Sagespring Wealth Partners LLC purchased a new position in Quanta Services in the 4th quarter worth $212,000. Advisors Capital Management LLC purchased a new position in Quanta Services in the 4th quarter worth $318,000. Mariner LLC raised its stake in Quanta Services by 26.6% in the 4th quarter. Mariner LLC now owns 35,216 shares of the construction company's stock worth $11,130,000 after acquiring an additional 7,392 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Quanta Services by 182.3% in the 4th quarter. Guggenheim Capital LLC now owns 5,700 shares of the construction company's stock worth $1,801,000 after acquiring an additional 3,681 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 2.9%

Shares of Quanta Services stock opened at $380.25 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $382.12 and a two-hundred day moving average of $321.29. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The stock has a market cap of $56.66 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the company posted $1.90 EPS. The company's revenue was up 21.1% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, Roth Capital reiterated a "buy" rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $392.45.

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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