Quanta Services, Inc. (NYSE:PWR) Shares Sold by Advisor Resource Council

Advisor Resource Council reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 54.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,486 shares of the construction company’s stock after selling 4,118 shares during the period. Advisor Resource Council’s holdings in Quanta Services were worth $906,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Gotham Asset Management LLC grew its position in shares of Quanta Services by 40.5% during the 3rd quarter. Gotham Asset Management LLC now owns 8,978 shares of the construction company’s stock valued at $1,680,000 after buying an additional 2,588 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Quanta Services by 7.9% during the 3rd quarter. AQR Capital Management LLC now owns 34,368 shares of the construction company’s stock worth $6,429,000 after purchasing an additional 2,528 shares during the period. AXQ Capital LP acquired a new position in Quanta Services during the 3rd quarter valued at approximately $524,000. Adage Capital Partners GP L.L.C. bought a new position in Quanta Services during the 3rd quarter worth $22,174,000. Finally, Lido Advisors LLC increased its position in Quanta Services by 1,205.9% in the third quarter. Lido Advisors LLC now owns 29,082 shares of the construction company’s stock worth $5,440,000 after buying an additional 26,855 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR traded up $6.82 during trading on Thursday, hitting $254.60. The stock had a trading volume of 601,443 shares, compared to its average volume of 832,462. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. 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 firm has a market cap of $37.27 billion, a PE ratio of 49.33 and a beta of 1.03. The company has a 50 day simple moving average of $268.78 and a 200-day simple moving average of $241.54.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. Analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. B. Riley increased their price objective on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. DA Davidson raised their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group raised their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Truist Financial reissued a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $268.85.

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.