One Plus One Wealth Management LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

One Plus One Wealth Management LLC cut its stake in Quanta Services, Inc. (NYSE:PWR) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261 shares of the construction company’s stock after selling 125 shares during the quarter. One Plus One Wealth Management LLC’s holdings in Quanta Services were worth $321,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Larson Financial Group LLC grew its stake in shares of Quanta Services by 7.8% during 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 grew its stake in shares of Quanta Services by 4.8% during 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 grew 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 valued at $1,566,000 after acquiring an additional 34 shares in the last quarter. Rothschild Investment LLC grew 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 valued at $146,000 after acquiring an additional 34 shares in the last quarter. Finally, Paladin Wealth LLC grew its stake in Quanta Services by 1.8% in the fourth quarter. Paladin Wealth LLC now owns 1,929 shares of the construction company’s stock worth $610,000 after purchasing an additional 35 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 0.5%

Shares of NYSE PWR opened at $361.20 on Friday. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth 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 company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $306.00 and its 200 day simple moving average is $304.24.

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

Quanta Services Dividend Announcement

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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Truist Financial decreased their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. DA Davidson lifted their price target on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday. Finally, BMO Capital Markets set a $352.00 price target on Quanta Services in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $347.35.

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.