Thurston Springer Miller Herd & Titak Inc. Acquires 2,334 Shares of Quanta Services, Inc. (NYSE:PWR)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 224.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,376 shares of the construction company's stock after acquiring an additional 2,334 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Quanta Services were worth $858,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after buying an additional 33 shares in the last quarter. New Republic Capital LLC lifted its stake in shares of Quanta Services by 4.8% in the 4th quarter. New Republic Capital LLC now owns 746 shares of the construction company's stock valued at $236,000 after acquiring an additional 34 shares during the last quarter. TBH Global Asset Management LLC boosted its holdings in shares of Quanta Services by 0.7% during the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company's stock valued at $1,566,000 after acquiring an additional 34 shares in the last quarter. Rothschild Investment LLC grew its position in Quanta Services by 7.9% during the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock worth $146,000 after acquiring an additional 34 shares during the last quarter. Finally, Paladin Wealth LLC increased its holdings in Quanta Services by 1.8% in the 4th quarter. Paladin Wealth LLC now owns 1,929 shares of the construction company's stock worth $610,000 after purchasing an additional 35 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PWR shares. The Goldman Sachs Group boosted their price target on Quanta Services from $364.00 to $414.00 and gave the stock a "buy" rating in a report on Wednesday. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $347.35.

Quanta Services Stock Performance

NYSE:PWR opened at $359.60 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company has a fifty day moving average of $303.93 and a 200-day moving average of $304.23. The firm has a market capitalization of $53.32 billion, a P/E ratio of 59.64, a P/E/G ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business's revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. 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.

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