Pallas Capital Advisors LLC Has $3.04 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Pallas Capital Advisors LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,953 shares of the construction company’s stock after buying an additional 727 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Quanta Services were worth $3,038,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in 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 purchasing an additional 33 shares during the period. New Republic Capital LLC grew its holdings in 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 purchasing an additional 34 shares during the period. TBH Global Asset Management LLC grew its holdings in 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 purchasing an additional 34 shares during the period. Rothschild Investment LLC grew its holdings in 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 purchasing an additional 34 shares during the period. Finally, Paladin Wealth LLC grew its holdings in Quanta Services by 1.8% during the fourth quarter. Paladin Wealth LLC now owns 1,929 shares of the construction company’s stock valued at $610,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. Argus set a $375.00 price target on shares of Quanta Services in a report on Monday, May 5th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup reduced their price target on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Finally, Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Six investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $347.35.

Quanta Services Stock Performance

NYSE PWR opened at $355.73 on Tuesday. 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’s fifty day moving average price is $307.83 and its two-hundred day moving average price is $304.09. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market capitalization of $52.74 billion, a P/E ratio of 58.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 is Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.45%.

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.