SeaCrest Wealth Management LLC Sells 136 Shares of Quanta Services, Inc. (NYSE:PWR)

SeaCrest Wealth Management LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the construction company’s stock after selling 136 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Quanta Services were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. Banque Transatlantique SA bought a new position in shares of Quanta Services during the 4th quarter worth about $25,000. Quarry LP bought a new position in shares of Quanta Services during the 4th quarter worth about $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of Quanta Services during the 4th quarter worth about $34,000. Finally, Rakuten Securities Inc. boosted its position in shares of Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PWR shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, DA Davidson raised their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $347.35.

Quanta Services Trading Up 0.5%

NYSE:PWR opened at $361.20 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $53.55 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The firm’s 50 day moving average is $306.00 and its 200 day moving average is $304.24. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88.

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

Quanta Services Announces Dividend

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