Azzad Asset Management Inc. ADV Sells 170 Shares of Quanta Services, Inc. (NYSE:PWR)

Azzad Asset Management Inc. ADV lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,167 shares of the construction company’s stock after selling 170 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Quanta Services were worth $3,940,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Private Ocean LLC purchased a new position in Quanta Services during the first quarter worth $26,000. Hazlett Burt & Watson Inc. lifted its stake in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $34,000. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services in the fourth quarter worth approximately $41,000. Finally, Vestor Capital LLC purchased a new position in Quanta Services during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.0 %

PWR stock traded up $4.97 during trading on Wednesday, reaching $252.75. 215,059 shares of the company traded hands, compared to its average volume of 936,685. The business has a 50 day simple moving average of $268.75 and a 200 day simple moving average of $241.45. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market capitalization of $37.00 billion, a price-to-earnings ratio of 48.02 and a beta of 1.03.

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

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. Citigroup increased their target price on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial reissued a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Robert W. Baird raised their target price on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Evercore ISI increased their price objective on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, B. Riley lifted their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $268.85.

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.