Quanta Services, Inc. (NYSE:PWR) Shares Purchased by My Legacy Advisors LLC

My Legacy Advisors LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 3.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,305 shares of the construction company’s stock after acquiring an additional 150 shares during the period. My Legacy Advisors LLC’s holdings in Quanta Services were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth about $544,937,000. Capital World Investors grew its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the period. GAMMA Investing LLC grew its position in Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after purchasing an additional 811,797 shares during the period. Raymond James Financial Inc. acquired a new stake in Quanta Services during the 4th quarter worth about $203,068,000. Finally, Bank of America Corp DE grew its position in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after purchasing an additional 506,722 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Down 2.0%

Shares of Quanta Services stock opened at $348.37 on Wednesday. The firm has a market capitalization of $51.65 billion, a PE ratio of 57.77, a P/E/G ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The firm’s 50-day moving average price is $309.76 and its 200 day moving average price is $304.40. 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 earnings per share for the quarter, topping 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 business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the company posted $1.41 EPS. The business’s revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Roth Mkm started coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Evercore ISI raised their target price on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus 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.