Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,240 shares of the construction company’s stock after purchasing an additional 53 shares during the quarter. Quanta Services accounts for about 1.6% of Argus Investors Counsel Inc.’s holdings, making the stock its 22nd biggest holding. Argus Investors Counsel Inc.’s holdings in Quanta Services were worth $2,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. Brighton Jones LLC purchased a new stake in Quanta Services in the fourth quarter valued at approximately $298,000. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the fourth quarter valued at $46,364,000. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Savant Capital LLC raised its stake in shares of Quanta Services by 2.7% during the 4th quarter. Savant Capital LLC now owns 6,516 shares of the construction company’s stock valued at $2,059,000 after buying an additional 170 shares during the last quarter. Finally, Certuity LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at about $346,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 0.7%

Shares of PWR stock opened at $358.27 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. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company’s 50-day moving average price is $314.35 and its 200-day moving average price is $304.86. The stock has a market cap of $53.12 billion, a price-to-earnings ratio of 59.41, a PEG 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 for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during 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%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. As a group, equities 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 disclosed 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 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Argus set a $375.00 price target on shares of Quanta Services in a report on Monday, May 5th. Citigroup decreased their price objective on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, UBS Group raised their target price on Quanta Services from $369.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday. Six equities 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.65.

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.