SeaBridge Investment Advisors LLC Boosts Position in Quanta Services, Inc. (NYSE:PWR)

SeaBridge Investment Advisors LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 71.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,508 shares of the construction company's stock after purchasing an additional 3,959 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Quanta Services were worth $2,417,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup decreased their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given 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 a consensus target price of $355.75.

Quanta Services Stock Up 1.5%

Quanta Services stock traded up $5.97 during mid-day trading on Friday, hitting $403.87. The company had a trading volume of 440,249 shares, compared to its average volume of 1,433,819. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $360.62 and its two-hundred day moving average price is $312.29. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $405.43. The company has a market capitalization of $59.88 billion, a PE ratio of 65.14, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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 return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

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.