TruWealth Advisors LLC Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

TruWealth Advisors LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 49,485 shares of the construction company's stock after purchasing an additional 3,932 shares during the period. TruWealth Advisors LLC's holdings in Quanta Services were worth $12,578,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PWR. Commonwealth Financial Services LLC grew its holdings in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares during the period. Larson Financial Group LLC grew its stake in Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares during the period. New Republic Capital LLC increased its holdings in Quanta Services by 4.8% in the 4th quarter. New Republic Capital LLC now owns 746 shares of the construction company's stock worth $236,000 after acquiring an additional 34 shares in the last quarter. TBH Global Asset Management LLC raised its position in Quanta Services by 0.7% during the fourth quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company's stock worth $1,566,000 after acquiring an additional 34 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of Quanta Services by 7.9% in the fourth quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock valued at $146,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE PWR traded up $0.49 during trading hours on Thursday, hitting $359.60. 877,049 shares of the stock were exchanged, compared to its average volume of 1,538,344. The stock has a 50-day moving average of $301.84 and a 200 day moving average of $304.01. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 59.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. 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 12-month low of $227.08 and a 12-month high of $365.88.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid 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 dividend payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PWR shares. Piper Sandler reissued an "overweight" rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Citigroup reduced their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial dropped their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price 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.