Resurgent Financial Advisors LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Resurgent Financial Advisors LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,714 shares of the construction company’s stock after buying an additional 145 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Quanta Services were worth $1,198,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in Quanta Services during the fourth quarter valued at $25,000. Quarry LP acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter valued at about $25,000. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at about $42,000. Finally, Sound Income Strategies LLC raised its position in shares of Quanta Services by 77.9% in the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after buying an additional 81 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $403.53 on Friday. 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 stock has a market capitalization of $59.83 billion, a P/E ratio of 65.09, a P/E/G ratio of 3.09 and a beta of 1.08. The company’s fifty day moving average is $362.17 and its two-hundred day moving average is $312.89. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $405.43.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services’s revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent research reports. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the company from $352.00 to $400.00 in a research report on Thursday. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Citigroup cut their price objective on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. 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. Finally, Truist Financial cut their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.75.

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.