Quanta Services, Inc. (NYSE:PWR) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,647 shares of the construction company’s stock after selling 100 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Quanta Services worth $19,736,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Petros Family Wealth LLC grew its position in Quanta Services by 24.2% during the first quarter. Petros Family Wealth LLC now owns 1,139 shares of the construction company’s stock valued at $290,000 after buying an additional 222 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Quanta Services by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,751 shares of the construction company’s stock worth $21,542,000 after acquiring an additional 4,300 shares in the last quarter. Stiles Financial Services Inc grew its position in shares of Quanta Services by 8.2% during the 1st quarter. Stiles Financial Services Inc now owns 920 shares of the construction company’s stock valued at $234,000 after acquiring an additional 70 shares during the period. Whalen Wealth Management Inc. increased its stake in shares of Quanta Services by 104.5% in the 1st quarter. Whalen Wealth Management Inc. now owns 3,517 shares of the construction company’s stock valued at $894,000 after purchasing an additional 1,797 shares in the last quarter. Finally, Friday Financial purchased a new position in Quanta Services during the first quarter worth approximately $455,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. Piper Sandler restated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. B. Riley lifted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Evercore ISI upped 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. Finally, Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. 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 company. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $349.65.

Quanta Services Price Performance

Shares of PWR stock opened at $374.05 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $55.46 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 2.90 and a beta of 1.07. The firm’s 50-day moving average is $332.22 and its two-hundred day moving average is $306.31. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $375.53.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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 issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) 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.