Transform Wealth LLC Buys 727 Shares of Quanta Services, Inc. (NYSE:PWR)

Transform Wealth LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,983 shares of the construction company's stock after purchasing an additional 727 shares during the quarter. Transform Wealth LLC's holdings in Quanta Services were worth $10,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the last quarter. Capital World Investors lifted its stake in shares of Quanta Services by 14.1% in 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 period. Geode Capital Management LLC boosted its holdings in shares of Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Invesco Ltd. grew its holdings in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares during the period. Finally, Norges Bank bought a new stake in Quanta Services in the 4th quarter valued at about $544,937,000. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore ISI upped 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. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $349.65.

Quanta Services Price Performance

Quanta Services stock traded up $3.00 during midday trading on Thursday, hitting $358.78. 426,005 shares of the company's stock were exchanged, compared to its average volume of 1,508,346. The company has a market cap of $53.19 billion, a P/E ratio of 59.50, a PEG ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a 50-day moving average price of $312.08 and a two-hundred day moving average price of $304.75. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.