Brown Miller Wealth Management LLC Takes $339,000 Position in Quanta Services, Inc. (NYSE:PWR)

Brown Miller Wealth Management LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, HoldingsChannel.com reports. The firm bought 1,332 shares of the construction company’s stock, valued at approximately $339,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Access Financial Services Inc. acquired a new stake in shares of Quanta Services during the 1st quarter valued at approximately $621,000. Asio Capital LLC raised its position in shares of Quanta Services by 49.7% during the 1st quarter. Asio Capital LLC now owns 13,662 shares of the construction company’s stock valued at $3,473,000 after acquiring an additional 4,533 shares in the last quarter. Brighton Jones LLC raised its position in shares of Quanta Services by 93.2% during the 1st quarter. Brighton Jones LLC now owns 1,822 shares of the construction company’s stock valued at $463,000 after acquiring an additional 879 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Quanta Services by 117.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 21,752 shares of the construction company’s stock valued at $5,529,000 after acquiring an additional 11,756 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after acquiring an additional 81 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Roth Mkm started coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $349.65.

Quanta Services Trading Up 1.0%

NYSE:PWR opened at $361.77 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $367.00. The firm has a market capitalization of $53.64 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The stock has a fifty day simple moving average of $318.95 and a 200 day simple moving average of $304.51.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company posted $1.41 EPS. Quanta Services’s revenue for the quarter was up 23.9% on a year-over-year basis. Sell-side analysts forecast 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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.45%.

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.