Rhumbline Advisers Buys 14,513 Shares of Quanta Services, Inc. (NYSE:PWR)

Rhumbline Advisers raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 324,451 shares of the construction company's stock after purchasing an additional 14,513 shares during the period. Rhumbline Advisers owned 0.22% of Quanta Services worth $82,469,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after buying an additional 2,184 shares during the last quarter. Allstate Corp purchased a new position in Quanta Services during the fourth quarter worth about $1,357,000. Brighton Jones LLC acquired a new position in Quanta Services during the 4th quarter worth approximately $298,000. Quaero Capital S.A. raised its stake in shares of Quanta Services by 198.2% during the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company's stock worth $2,253,000 after buying an additional 4,738 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Quanta Services by 3.9% in the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock valued at $151,659,000 after buying an additional 18,206 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PWR shares. Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Truist Financial reduced their target price 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. DA Davidson increased their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.35.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $0.49 during trading hours on Thursday, hitting $359.60. 876,180 shares of the company's stock were exchanged, compared to its average volume of 1,535,746. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The stock has a market capitalization of $53.32 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 1.41 and a beta of 1.02. The company's 50-day moving average price is $301.84 and its 200-day moving average price is $304.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Quanta Services's revenue was up 23.9% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company 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 $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend 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.