Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Connors Investor Services Inc.

Connors Investor Services Inc. boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,702 shares of the construction company’s stock after acquiring an additional 3,797 shares during the period. Quanta Services accounts for about 1.7% of Connors Investor Services Inc.’s holdings, making the stock its 18th biggest position. Connors Investor Services Inc.’s holdings in Quanta Services were worth $16,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Private Ocean LLC purchased a new position in Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Quanta Services during the fourth quarter worth $34,000. Finally, Valley National Advisers Inc. purchased a new position in Quanta Services in the fourth quarter worth $41,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 2.3 %

Shares of Quanta Services stock traded down $6.15 during trading on Friday, reaching $258.56. The company had a trading volume of 1,122,240 shares, compared to its average volume of 1,010,109. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 50.11 and a beta of 1.03. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The firm’s fifty day moving average is $267.66 and its 200-day moving average is $245.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36.

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

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a dividend of $0.09 per share. The ex-dividend date was Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PWR shares. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Truist Financial reaffirmed a “buy” rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. The Goldman Sachs Group raised their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird boosted their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday. Three 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 has a consensus rating of “Moderate Buy” and a consensus target price of $272.33.

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.