Kingsview Wealth Management LLC Sells 464 Shares of Quanta Services, Inc. (NYSE:PWR)

Kingsview Wealth Management LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,945 shares of the construction company’s stock after selling 464 shares during the period. Kingsview Wealth Management LLC’s holdings in Quanta Services were worth $2,274,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PWR. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in shares of Quanta Services in the fourth quarter worth $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the first quarter worth $25,000. OLD Second National Bank of Aurora purchased a new position in Quanta Services during the first quarter valued at $42,000. Finally, Sound Income Strategies LLC increased its holdings in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. Piper Sandler reiterated an “overweight” rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research report on Thursday, June 12th. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Finally, Truist Financial reduced their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $355.75.

Quanta Services Stock Performance

NYSE PWR opened at $403.53 on Friday. The firm has a market capitalization of $59.83 billion, a P/E ratio of 65.09, a PEG ratio of 3.14 and a beta of 1.08. The stock has a 50-day simple moving average of $362.17 and a two-hundred day simple moving average of $312.87. 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, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $405.43.

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 company 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 firm’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business earned $1.41 earnings per share. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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