159 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 159 shares of the construction company’s stock, valued at approximately $40,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SCP Investment LP bought a new stake in Quanta Services during the first quarter worth about $966,000. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth about $298,000. Wealth Enhancement Advisory Services LLC raised its holdings in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after acquiring an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC bought a new stake in Quanta Services during the first quarter worth about $213,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of several research analyst reports. Sanford C. Bernstein lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. TD Cowen upped their price objective on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $392.45.

Quanta Services Trading Up 1.9%

Shares of NYSE:PWR opened at $391.55 on Wednesday. The company has a market capitalization of $58.34 billion, a P/E ratio of 60.61, a P/E/G ratio of 2.28 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business’s 50 day simple moving average is $381.71 and its 200 day simple moving average is $320.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

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.