MassMutual Private Wealth & Trust FSB Acquires 71 Shares of Quanta Services, Inc. (NYSE:PWR)

MassMutual Private Wealth & Trust FSB grew its position in Quanta Services, Inc. (NYSE:PWR) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 616 shares of the construction company’s stock after purchasing an additional 71 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Quanta Services were worth $157,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of Quanta Services in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of Quanta Services during the 4th quarter valued at $26,000. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $34,000. Finally, Rakuten Securities Inc. lifted 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 valued at $39,000 after acquiring an additional 113 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $342.04 on Monday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The stock’s 50-day moving average is $295.98 and its 200 day moving average is $303.10. The company has a market cap of $50.71 billion, a P/E ratio of 56.72, a PEG ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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, beating 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 company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.45%.

Analyst Ratings Changes

Several research analysts have weighed in on PWR shares. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Piper Sandler reiterated an “overweight” rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group lowered their price target on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $344.85.

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.