Duncker Streett & Co. Inc. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Duncker Streett & Co. Inc. boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 20,246.5% in the first quarter, HoldingsChannel reports. The fund owned 8,749 shares of the construction company’s stock after purchasing an additional 8,706 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Quanta Services were worth $2,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allstate Corp purchased a new stake in Quanta Services during the fourth quarter valued at approximately $1,357,000. Brighton Jones LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $298,000. Farther Finance Advisors LLC raised its holdings in shares of Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after buying an additional 588 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Quanta Services in the fourth quarter worth $46,364,000. Finally, Objectivity Squared LLC purchased a new position in shares of Quanta Services in the first quarter worth $213,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.0%

PWR opened at $360.51 on Monday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two 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. The company has a fifty day moving average of $326.30 and a two-hundred day moving average of $305.14. The stock has a market capitalization of $53.45 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.81 and a beta of 1.07.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s payout ratio is 6.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on PWR. Argus set a $375.00 price target on shares of Quanta Services in a report on Monday, May 5th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. TD Cowen raised their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Citigroup decreased 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. Finally, Piper Sandler reaffirmed 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. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $349.65.

About Quanta Services

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.