Quanta Services, Inc. (NYSE:PWR) Shares Bought by Petros Family Wealth LLC

Petros Family Wealth LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 24.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,139 shares of the construction company’s stock after purchasing an additional 222 shares during the quarter. Petros Family Wealth LLC’s holdings in Quanta Services were worth $290,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter worth about $25,000. Quarry LP acquired a new position in Quanta Services in the 4th quarter worth about $26,000. Rakuten Securities Inc. raised its holdings in Quanta Services by 1,027.3% in 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 during the period. OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services during the first quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PWR. The Goldman Sachs Group reissued a “buy” rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. BMO Capital Markets set a $352.00 target price on Quanta Services in a report on Friday, May 2nd. Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. B. Riley increased their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Stifel Nicolaus increased their target price on Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $349.65.

Quanta Services Trading Up 1.5%

Shares of Quanta Services stock opened at $366.36 on Tuesday. The firm has a market capitalization of $54.32 billion, a price-to-earnings ratio of 59.09, a PEG ratio of 2.81 and a beta of 1.07. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $367.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a 50 day moving average of $328.14 and a 200 day moving average of $305.38.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, research analysts predict 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 given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is currently 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.