Fiduciary Alliance LLC Has $5.22 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Fiduciary Alliance LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,127 shares of the construction company’s stock after selling 3,550 shares during the quarter. Fiduciary Alliance LLC’s holdings in Quanta Services were worth $5,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Ocean LLC bought a new stake in Quanta Services in the first quarter worth $26,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Quanta Services by 44.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,848 shares of the construction company’s stock valued at $2,818,000 after acquiring an additional 3,334 shares in the last quarter. Garrison Bradford & Associates Inc. boosted its position in shares of Quanta Services by 6.5% during the first quarter. Garrison Bradford & Associates Inc. now owns 18,708 shares of the construction company’s stock valued at $4,860,000 after buying an additional 1,145 shares during the last quarter. Reliant Investment Management LLC boosted its holdings in shares of Quanta Services by 0.4% during the 1st quarter. Reliant Investment Management LLC now owns 28,404 shares of the construction company’s stock valued at $7,379,000 after acquiring an additional 108 shares during the last quarter. Finally, New England Research & Management Inc. boosted its stake in shares of Quanta Services by 19.1% in the 1st quarter. New England Research & Management Inc. now owns 14,631 shares of the construction company’s stock worth $3,801,000 after buying an additional 2,350 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Citigroup upped their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird raised their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Evercore ISI boosted their price objective on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Argus increased their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Quanta Services Stock Performance

PWR stock traded down $12.97 during mid-day trading on Friday, hitting $254.09. 2,163,579 shares of the company were exchanged, compared to its average volume of 814,764. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The business has a 50 day simple moving average of $268.79 and a 200-day simple moving average of $240.78. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The stock has a market capitalization of $37.20 billion, a PE ratio of 49.24 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. On average, equities analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

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.