Rockingstone Advisors LLC grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,776 shares of the construction company's stock after buying an additional 1,138 shares during the period. Rockingstone Advisors LLC's holdings in Quanta Services were worth $2,485,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the business. Banque Transatlantique SA acquired a new stake in Quanta Services during the fourth quarter worth approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the 4th quarter worth about $26,000. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after buying an additional 113 shares during the last quarter. Institutional investors own 90.49% of the company's stock.
Quanta Services Price Performance
PWR stock traded up $3.78 during midday trading on Thursday, reaching $359.56. The company had a trading volume of 393,310 shares, compared to its average volume of 1,507,587. The company has a market capitalization of $53.31 billion, a P/E ratio of 59.63, a P/E/G ratio of 1.41 and a beta of 1.07. 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, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a 50-day moving average price of $312.08 and a 200-day moving average price of $304.75.
Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Quanta Services's revenue was up 23.9% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on PWR. Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Truist Financial reduced their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, DA Davidson increased their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $349.65.
Check Out Our Latest Research Report on Quanta Services
Quanta Services Profile
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Free Report)
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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