Balefire LLC Has $355,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Balefire LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 62.0% during the first quarter, Holdings Channel reports. The fund owned 1,395 shares of the construction company’s stock after acquiring an additional 534 shares during the quarter. Balefire LLC’s holdings in Quanta Services were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after buying an additional 33 shares in the last quarter. Pinion Investment Advisors LLC grew its holdings in Quanta Services by 2.7% in the 4th quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company’s stock valued at $485,000 after buying an additional 40 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in Quanta Services by 0.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company’s stock valued at $4,256,000 after buying an additional 41 shares in the last quarter. Quent Capital LLC grew its holdings in Quanta Services by 3.2% in the 1st quarter. Quent Capital LLC now owns 1,362 shares of the construction company’s stock valued at $346,000 after buying an additional 42 shares in the last quarter. Finally, Tower Wealth Partners Inc. grew its holdings in Quanta Services by 3.8% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,165 shares of the construction company’s stock valued at $368,000 after buying an additional 43 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $380.04 on Friday. The company has a market capitalization of $56.34 billion, a PE ratio of 61.30, a P/E/G ratio of 2.91 and a beta of 1.07. The stock has a 50-day moving average price of $334.47 and a two-hundred day moving average price of $306.72. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $381.12.

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

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PWR shares. Argus set a $375.00 price target on Quanta Services in a research note on Monday, May 5th. Citigroup reduced their target price on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a report on Friday, April 25th. DA Davidson lifted their price target on Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $349.65.

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.