U.S. Capital Wealth Advisors LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,767 shares of the construction company's stock after acquiring an additional 787 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Quanta Services were worth $1,212,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allstate Corp purchased a new position in shares of Quanta Services in the fourth quarter worth about $1,357,000. Brighton Jones LLC purchased a new position in Quanta Services during the 4th quarter worth approximately $298,000. Farther Finance Advisors LLC raised its position in Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new stake in shares of Quanta Services in the first quarter worth $213,000. 90.49% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Trading Down 0.5%
NYSE:PWR traded down $2.06 on Thursday, hitting $380.06. The stock had a trading volume of 972,128 shares, compared to its average volume of 1,465,772. The company has a fifty day moving average price of $352.83 and a two-hundred day moving average price of $309.79. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $388.00. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $56.35 billion, a price-to-earnings ratio of 61.30, a PEG ratio of 2.94 and a beta of 1.08.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PWR. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. TD Cowen upped their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, UBS Group set a $413.00 price target on Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. Eight 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $350.95.
Check Out Our Latest Report on Quanta Services
About Quanta Services
(
Free Report)
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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