Valeo Financial Advisors LLC Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Valeo Financial Advisors LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,370 shares of the construction company's stock after selling 891 shares during the period. Valeo Financial Advisors LLC's holdings in Quanta Services were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter valued at $25,000. Quarry LP purchased a new stake in Quanta Services in the fourth quarter valued at $26,000. Rakuten Securities Inc. lifted its position in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares during the last quarter. OLD Second National Bank of Aurora purchased a new stake in Quanta Services in the first quarter valued at $42,000. Finally, Sound Income Strategies LLC lifted its position in Quanta Services by 77.9% in the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after acquiring an additional 81 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. B. Riley boosted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. DA Davidson upped their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. UBS Group set a $413.00 target price on shares of Quanta Services and gave the company a "buy" rating in a report on Thursday, June 12th. Truist Financial reduced their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Nine 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, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $353.35.

Quanta Services Trading Up 0.1%

NYSE PWR traded up $0.44 during mid-day trading on Friday, reaching $380.53. 448,801 shares of the stock were exchanged, compared to its average volume of 1,457,743. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $388.00. The business's fifty day simple moving average is $353.98 and its 200 day simple moving average is $310.15. The stock has a market capitalization of $56.42 billion, a PE ratio of 61.38, a PEG ratio of 2.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services's revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. 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 presently 6.45%.

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.