Quanta Services, Inc. (NYSE:PWR) Position Raised by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 1st quarter, Holdings Channel reports. The fund owned 7,905 shares of the construction company’s stock after buying an additional 226 shares during the period. Kovack Advisors Inc.’s holdings in Quanta Services were worth $2,054,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. Capital World Investors boosted its position in Quanta Services by 11.6% during the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after acquiring an additional 624,545 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares in the last quarter. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter valued at $335,777,000. Finally, Morgan Stanley raised its stake in shares of Quanta Services by 3.3% during the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PWR shares. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Evercore ISI lifted their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Robert W. Baird lifted their target price on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Citigroup upped their price target 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $268.85.

Quanta Services Trading Up 2.7 %

NYSE PWR traded up $6.78 on Thursday, hitting $254.56. 601,443 shares of the stock were exchanged, compared to its average volume of 832,462. The company’s 50-day moving average price is $268.78 and its two-hundred day moving average price is $241.54. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 49.33 and a beta of 1.03. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.96 billion. Research analysts predict that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders 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 annualized dividend 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.