U.S. Capital Wealth Advisors LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,767 shares of the construction company's stock after purchasing an additional 787 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Quanta Services were worth $1,212,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Allstate Corp purchased a new stake in Quanta Services during the 4th quarter worth about $1,357,000. Brighton Jones LLC purchased a new stake in Quanta Services during the 4th quarter worth about $298,000. Farther Finance Advisors LLC lifted its holdings 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 lifted its holdings in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the last quarter. Finally, Objectivity Squared LLC purchased a new stake in Quanta Services during the 1st quarter worth about $213,000. 90.49% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on PWR. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a research note on Wednesday, July 2nd. Finally, Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $353.35.
View Our Latest Report on PWR
Quanta Services Price Performance
Shares of PWR traded up $3.54 on Friday, reaching $383.63. The stock had a trading volume of 906,737 shares, compared to its average volume of 1,060,505. The firm has a market capitalization of $56.88 billion, a PE ratio of 61.88, a PEG ratio of 2.99 and a beta of 1.08. 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 firm has a 50-day moving average of $355.23 and a 200 day moving average of $310.23. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $388.00.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the company earned $1.41 EPS. Quanta Services's revenue was up 23.9% on a year-over-year basis. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.
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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