Ashton Thomas Private Wealth LLC Has $851,000 Position in Quanta Services, Inc. $PWR

Ashton Thomas Private Wealth LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,250 shares of the construction company’s stock after buying an additional 26 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Quanta Services were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at approximately $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at approximately $404,288,000. Northern Trust Corp grew its position in shares of Quanta Services by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after purchasing an additional 56,081 shares during the period. Finally, Amundi grew its position in shares of Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PWR has been the subject of several research analyst reports. Truist Financial boosted their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Mizuho set a $415.00 target price on Quanta Services in a research note on Tuesday. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Finally, Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $414.09.

Quanta Services Trading Up 2.2%

Shares of Quanta Services stock opened at $449.28 on Thursday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $459.36. The stock has a market cap of $66.95 billion, a P/E ratio of 69.55, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $405.20 and its 200-day moving average is $372.57.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue was up 21.1% 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.19%.

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.