Quanta Services, Inc. (NYSE:PWR) Shares Sold by Tandem Financial LLC

Tandem Financial LLC decreased its stake in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,468 shares of the construction company’s stock after selling 140 shares during the period. Quanta Services makes up 3.2% of Tandem Financial LLC’s portfolio, making the stock its 10th biggest position. Tandem Financial LLC’s holdings in Quanta Services were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Howard Capital Management Inc. boosted its holdings in shares of Quanta Services by 9.9% in the first quarter. Howard Capital Management Inc. now owns 10,899 shares of the construction company’s stock valued at $2,770,000 after acquiring an additional 980 shares in the last quarter. 360 Financial Inc. bought a new stake in Quanta Services during the first quarter worth approximately $585,000. Wellington Shields & Co. LLC lifted its position in Quanta Services by 72.8% in the first quarter. Wellington Shields & Co. LLC now owns 178 shares of the construction company’s stock worth $45,000 after purchasing an additional 75 shares during the period. Arkadios Wealth Advisors boosted its stake in Quanta Services by 1,918.6% during the 1st quarter. Arkadios Wealth Advisors now owns 16,593 shares of the construction company’s stock valued at $4,218,000 after purchasing an additional 15,771 shares in the last quarter. Finally, Bayforest Capital Ltd increased its position in shares of Quanta Services by 5,166.7% during the 1st quarter. Bayforest Capital Ltd now owns 1,106 shares of the construction company’s stock valued at $281,000 after purchasing an additional 1,085 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

NYSE PWR opened at $411.80 on Wednesday. The company has a 50 day simple moving average of $369.96 and a 200-day simple moving average of $316.54. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The firm has a market capitalization of $61.06 billion, a price-to-earnings ratio of 66.42, a price-to-earnings-growth ratio of 2.83 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:PWRGet Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. TD Cowen upped their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, B. Riley raised their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.23.

Read Our Latest Stock Analysis on PWR

Quanta Services Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWRFree Report).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.