Capital Advisors Wealth Management LLC lifted its position in Quanta Services, Inc. (NYSE:PWR – Free Report) by 37.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,840 shares of the construction company’s stock after purchasing an additional 503 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Quanta Services were worth $468,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allstate Corp bought a new position in shares of Quanta Services during the 4th quarter worth about $1,357,000. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter worth about $298,000. Farther Finance Advisors LLC lifted its stake in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after purchasing an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock valued at $17,480,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Objectivity Squared LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at approximately $213,000. 90.49% of the stock is owned by institutional investors.
Quanta Services Trading Up 0.6%
PWR stock opened at $381.68 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $382.79. The company has a market cap of $56.59 billion, a P/E ratio of 61.56, a PEG ratio of 2.97 and a beta of 1.07. The business has a fifty day moving average of $336.76 and a 200-day moving average of $306.95.
Quanta Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is 6.45%.
Analyst Ratings Changes
PWR has been the topic of several recent analyst reports. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research note on Friday, May 2nd. TD Cowen increased their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reissued a “buy” rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $349.65.
About Quanta Services
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.
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