TruWealth Advisors LLC Buys 3,932 Shares of Quanta Services, Inc. (NYSE:PWR)

TruWealth Advisors LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,485 shares of the construction company’s stock after acquiring an additional 3,932 shares during the quarter. TruWealth Advisors LLC’s holdings in Quanta Services were worth $12,578,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Quanta Services during the 4th quarter worth about $544,937,000. Capital World Investors lifted its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. GAMMA Investing LLC lifted its position in Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after buying an additional 811,797 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Quanta Services during the 4th quarter worth about $203,068,000. Finally, Bank of America Corp DE lifted its position in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after buying an additional 506,722 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $356.82 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $52.90 billion, a P/E ratio of 59.17, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The firm has a 50-day moving average price of $299.73 and a two-hundred day moving average price of $303.63.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Truist Financial cut their price target on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler restated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. DA Davidson boosted their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, Evercore ISI boosted their price objective 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 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.85.

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.