Waverton Investment Management Ltd Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Waverton Investment Management Ltd grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,674 shares of the construction company's stock after acquiring an additional 9,292 shares during the period. Waverton Investment Management Ltd's holdings in Quanta Services were worth $15,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter worth about $25,000. Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after buying an additional 113 shares during the period. OLD Second National Bank of Aurora acquired a new stake in Quanta Services during the first quarter worth about $42,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after purchasing an additional 81 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.6%

Quanta Services stock opened at $380.04 on Friday. The firm's 50 day moving average price is $334.47 and its two-hundred day moving average price is $306.72. The firm has a market cap of $56.34 billion, a PE ratio of 61.30, a P/E/G ratio of 2.91 and a beta of 1.07. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $381.12. 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 quarterly earnings data 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. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PWR shares. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Piper Sandler reiterated an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. UBS Group set a $413.00 target price on Quanta Services and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, DA Davidson increased their price target on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $349.65.

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.

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