Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,770 shares of the construction company's stock after buying an additional 2,479 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Quanta Services were worth $17,480,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $25,000. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its holdings in shares of 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 purchasing an additional 113 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Quanta Services by 181.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 186 shares of the construction company's stock valued at $59,000 after purchasing an additional 120 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PWR shares. Stifel Nicolaus upped their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Citigroup lowered 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 note on Friday, April 25th. Argus set a $375.00 target price on shares of Quanta Services in a research note on Monday, May 5th. Finally, Evercore ISI increased their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.

Quanta Services Stock Up 1.9%

NYSE:PWR traded up $6.83 during mid-day trading on Tuesday, hitting $372.59. The stock had a trading volume of 938,598 shares, compared to its average volume of 932,096. The stock has a 50-day simple moving average of $330.13 and a two-hundred day simple moving average of $305.84. The company has a market capitalization of $55.24 billion, a PE ratio of 60.10, a PEG ratio of 2.85 and a beta of 1.07. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $373.30. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

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

Quanta Services Dividend Announcement

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

Quanta Services Company 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.