Millington Financial Advisors LLC Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Millington Financial Advisors LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,709 shares of the construction company’s stock after purchasing an additional 253 shares during the quarter. Quanta Services makes up about 1.4% of Millington Financial Advisors LLC’s holdings, making the stock its 21st biggest holding. Millington Financial Advisors LLC’s holdings in Quanta Services were worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission.

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

Quanta Services Stock Performance

PWR opened at $361.20 on Monday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a market cap of $53.55 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The business’s 50 day moving average is $306.00 and its 200-day moving average is $303.99. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

PWR has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Piper Sandler restated 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. Finally, TD Cowen increased their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $347.35.

Quanta Services Company 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.