Townsquare Capital LLC Purchases 1,074 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Townsquare Capital LLC has increased its stake in Quanta Services by 23.3%, now holding 5,678 shares worth $1,443,000.
• Quanta Services reported a 21.1% increase in revenue year-over-year, totaling $6.77 billion for the last quarter.
• The company announced a quarterly dividend of $0.10 per share, representing an annualized dividend yield of 0.1%.

Townsquare Capital LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,678 shares of the construction company's stock after acquiring an additional 1,074 shares during the period. Townsquare Capital LLC's holdings in Quanta Services were worth $1,443,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors boosted 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 worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. GAMMA Investing LLC raised its position in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after buying an additional 811,797 shares during the last quarter. Bank of America Corp DE grew its stake in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the period. Jennison Associates LLC grew its stake in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after purchasing an additional 504,540 shares during the period. Finally, Vanguard Group Inc. grew its stake in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $380.25 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business's 50 day simple moving average is $382.12 and its two-hundred day simple moving average is $321.29. The stock has a market capitalization of $56.66 billion, a P/E ratio of 58.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The business's revenue was up 21.1% compared to the same quarter last year. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's payout ratio is currently 6.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PWR. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target for the company. in a research report on Monday, July 28th. Citigroup lifted their price target on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, DA Davidson lifted their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $392.45.

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.

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