Simplicity Wealth LLC Grows Holdings in Quanta Services, Inc. (NYSE:PWR)

Simplicity Wealth LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 992 shares of the construction company’s stock after purchasing an additional 84 shares during the quarter. Simplicity Wealth LLC’s holdings in Quanta Services were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its stake in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares in the last quarter. Allstate Corp purchased a new stake in shares of Quanta Services during the fourth quarter worth about $1,357,000. Brighton Jones LLC bought a new stake in Quanta Services during the 4th quarter valued at approximately $298,000. Quaero Capital S.A. lifted its holdings in Quanta Services by 198.2% in the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock worth $2,253,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Quanta Services by 3.9% in the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock worth $151,659,000 after purchasing an additional 18,206 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PWR. Evercore ISI lifted their price objective 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. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Citigroup reduced their target price on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Argus set a $375.00 target price on Quanta Services in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.65.

Quanta Services Stock Performance

Quanta Services stock opened at $358.27 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market capitalization of $53.12 billion, a P/E ratio of 59.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company’s 50-day moving average is $314.35 and its 200 day moving average is $304.86.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the company earned $1.41 EPS. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. Research analysts forecast 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. Stockholders 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 dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.45%.

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.