Reliant Investment Management LLC Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Reliant Investment Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.8% in the first quarter, Holdings Channel reports. The firm owned 27,554 shares of the construction company’s stock after acquiring an additional 208 shares during the period. Quanta Services accounts for approximately 3.6% of Reliant Investment Management LLC’s holdings, making the stock its 7th largest position. Reliant Investment Management LLC’s holdings in Quanta Services were worth $7,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the 4th quarter valued at about $25,000. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC bought a new position in Quanta Services in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in Quanta Services during the 4th quarter worth $34,000. Finally, Rakuten Securities Inc. raised its position in Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after purchasing an additional 113 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PWR shares. Citigroup dropped their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. DA Davidson increased their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday. TD Cowen upped their price target 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. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.35.

Quanta Services Stock Performance

Shares of PWR opened at $361.20 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market cap of $53.55 billion, a PE ratio of 59.90, a P/E/G ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock has a fifty day moving average price of $306.00 and a 200-day moving average price of $304.44.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s payout ratio is currently 6.45%.

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.