Whipplewood Advisors LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18,885.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,658 shares of the construction company's stock after buying an additional 2,644 shares during the period. Whipplewood Advisors LLC's holdings in Quanta Services were worth $676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at $298,000. Union Bancaire Privee UBP SA bought a new stake in shares of Quanta Services during the 4th quarter valued at about $46,364,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Quanta Services by 2.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,813 shares of the construction company's stock valued at $1,521,000 after purchasing an additional 120 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Quanta Services by 1.5% during the 4th quarter. DAVENPORT & Co LLC now owns 9,447 shares of the construction company's stock valued at $2,986,000 after purchasing an additional 136 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Quanta Services by 3.0% during the fourth quarter. Greenleaf Trust now owns 3,249 shares of the construction company's stock worth $1,027,000 after acquiring an additional 95 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on PWR shares. Truist Financial lowered their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. B. Riley upped their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday. Six research 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. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $347.35.
Read Our Latest Stock Analysis on Quanta Services
Quanta Services Stock Up 0.5%
NYSE:PWR traded up $1.62 during mid-day trading on Friday, hitting $361.20. The stock had a trading volume of 700,625 shares, compared to its average volume of 1,530,516. The stock has a 50-day simple moving average of $306.00 and a two-hundred day simple moving average of $304.44. The company has a market capitalization of $53.55 billion, a PE ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter last year, the company earned $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued 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 dividend payout ratio (DPR) is currently 6.45%.
Quanta Services Profile
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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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