Raymond James & Associates Purchases 3,407 Shares of Quanta Services, Inc. (NYSE:PWR)

Raymond James & Associates grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,790 shares of the construction company's stock after purchasing an additional 3,407 shares during the quarter. Raymond James & Associates owned approximately 0.13% of Quanta Services worth $49,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Quanta Services by 86.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company's stock valued at $5,733,000 after purchasing an additional 14,241 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Quanta Services by 2.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 71,100 shares of the construction company's stock worth $13,301,000 after acquiring an additional 1,900 shares during the period. Brown Advisory Inc. boosted its position in shares of Quanta Services by 0.6% in the third quarter. Brown Advisory Inc. now owns 42,844 shares of the construction company's stock worth $8,015,000 after purchasing an additional 265 shares during the period. Everhart Financial Group Inc. raised its position in shares of Quanta Services by 6.1% during the 3rd quarter. Everhart Financial Group Inc. now owns 2,797 shares of the construction company's stock valued at $523,000 after purchasing an additional 161 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Quanta Services by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,884 shares of the construction company's stock valued at $10,080,000 after buying an additional 5,984 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price target for the company. Truist Financial began coverage on Quanta Services in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 target price on the stock. B. Riley increased their price objective on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a report on Friday. DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Finally, TD Cowen raised their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.85.

Quanta Services Stock Up 0.5 %

PWR traded up $1.33 during trading on Friday, hitting $256.33. The stock had a trading volume of 970,817 shares, compared to its average volume of 893,668. The stock has a 50 day simple moving average of $250.69 and a two-hundred day simple moving average of $214.68. The company has a market capitalization of $37.52 billion, a PE ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analysts' expectations of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. On average, research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services's dividend payout ratio is presently 6.98%.

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Worthing Jackman sold 9,572 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company's stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.10% of the company's stock.

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.

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