River Street Advisors LLC Has $556,000 Position in Quanta Services, Inc. (NYSE:PWR)

River Street Advisors LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,189 shares of the construction company’s stock after buying an additional 114 shares during the quarter. River Street Advisors LLC’s holdings in Quanta Services were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter worth about $298,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $46,364,000. Principal Securities Inc. boosted its stake in shares of Quanta Services by 9.0% in the fourth quarter. Principal Securities Inc. now owns 2,259 shares of the construction company’s stock valued at $714,000 after buying an additional 187 shares during the period. Allworth Financial LP grew its position in Quanta Services by 27.2% during the fourth quarter. Allworth Financial LP now owns 1,842 shares of the construction company’s stock worth $582,000 after buying an additional 394 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Quanta Services by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 22,404 shares of the construction company’s stock worth $7,081,000 after acquiring an additional 992 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Truist Financial reduced their target price on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Piper Sandler reaffirmed an “overweight” rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Finally, Evercore ISI increased their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $349.65.

Quanta Services Trading Up 0.5%

Shares of NYSE PWR opened at $360.48 on Friday. The firm has a 50 day moving average price of $324.49 and a two-hundred day moving average price of $305.40. The stock has a market cap of $53.44 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $367.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, equities analysts forecast 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. Investors 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 dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio is currently 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.