Rhumbline Advisers Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Rhumbline Advisers boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 324,451 shares of the construction company’s stock after buying an additional 14,513 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Quanta Services worth $82,469,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth Financial Services LLC boosted its stake in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. Larson Financial Group LLC boosted its stake in Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after acquiring an additional 33 shares in the last quarter. New Republic Capital LLC boosted its stake in Quanta Services by 4.8% in the fourth quarter. New Republic Capital LLC now owns 746 shares of the construction company’s stock valued at $236,000 after acquiring an additional 34 shares in the last quarter. TBH Global Asset Management LLC lifted its stake in shares of Quanta Services by 0.7% during the fourth quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock worth $1,566,000 after buying an additional 34 shares during the period. Finally, Rothschild Investment LLC lifted its stake in shares of Quanta Services by 7.9% during the fourth quarter. Rothschild Investment LLC now owns 463 shares of the construction company’s stock worth $146,000 after buying an additional 34 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.9%

PWR opened at $345.57 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a fifty day moving average of $297.68 and a two-hundred day moving average of $303.25. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. DA Davidson lifted their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. The Goldman Sachs Group lowered their price objective on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. B. Riley lifted their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $344.85.

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.