Teamwork Financial Advisors LLC Increases Position in Quanta Services, Inc. (NYSE:PWR)

Teamwork Financial Advisors LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,614 shares of the construction company's stock after purchasing an additional 2,244 shares during the period. Teamwork Financial Advisors LLC's holdings in Quanta Services were worth $2,952,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PWR. Norges Bank bought a new position in Quanta Services in the fourth quarter valued at about $544,937,000. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its position in Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Raymond James Financial Inc. bought a new position in Quanta Services in the 4th quarter valued at approximately $203,068,000. Finally, Bank of America Corp DE boosted its position in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after buying an additional 506,722 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.1%

PWR stock traded up $0.49 during midday trading on Thursday, reaching $359.60. 877,049 shares of the company's stock traded hands, compared to its average volume of 1,538,344. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average price is $301.84 and its 200-day moving average price is $304.01. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 59.64, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm's revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is currently 6.45%.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group increased their target price on Quanta Services from $364.00 to $414.00 and gave the company a "buy" rating in a research report on Wednesday. DA Davidson upped their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Finally, Stifel Nicolaus lifted their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $347.35.

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.