Wedbush Securities Inc. Acquires 868 Shares of Quanta Services, Inc. (NYSE:PWR)

Wedbush Securities Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 40.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,017 shares of the construction company’s stock after buying an additional 868 shares during the period. Wedbush Securities Inc.’s holdings in Quanta Services were worth $767,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth approximately $25,000. Quarry LP bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the first quarter valued at about $25,000. OLD Second National Bank of Aurora acquired a new position in Quanta Services in the 1st quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC raised 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 in the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PWR. Citigroup cut their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price target on Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $362.25.

Quanta Services Trading Up 3.6%

PWR stock opened at $422.06 on Friday. The business has a fifty day moving average price of $368.62 and a 200 day moving average price of $315.81. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 68.07, a P/E/G ratio of 2.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR) last released its quarterly earnings results 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 return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same period last year, the firm posted $1.41 EPS. The business’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 fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.09%. Quanta Services’s payout ratio is 6.45%.

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.