M Holdings Securities Inc. Purchases 1,538 Shares of Quanta Services, Inc. $PWR

M Holdings Securities Inc. purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,538 shares of the construction company’s stock, valued at approximately $957,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC lifted its position in Quanta Services by 2.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock valued at $282,000 after buying an additional 13 shares during the period. Pincus Capital Management LP grew its position in shares of Quanta Services by 0.4% in the 1st quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock worth $2,026,000 after buying an additional 15 shares during the period. SouthState Bank Corp grew its position in shares of Quanta Services by 23.5% in the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after buying an additional 16 shares during the period. Brighton Jones LLC grew its position in shares of Quanta Services by 0.7% in the 3rd quarter. Brighton Jones LLC now owns 2,515 shares of the construction company’s stock worth $1,616,000 after buying an additional 18 shares during the period. Finally, Ethos Financial Group LLC increased its stake in shares of Quanta Services by 1.8% in the 1st quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company’s stock worth $584,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $592.15 on Tuesday. The stock has a 50-day moving average price of $628.61 and a 200-day moving average price of $626.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The firm has a market cap of $89.22 billion, a PE ratio of 53.64, a P/E/G ratio of 1.48 and a beta of 1.29. Quanta Services, Inc. has a 1 year low of $408.36 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The company had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the business posted $3.33 EPS. Quanta Services’s revenue was up 57.4% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 16.61 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, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is 3.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PWR shares. TD Cowen boosted their price objective on shares of Quanta Services from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Robert W. Baird set a $728.00 target price on shares of Quanta Services in a research note on Friday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $862.00 target price on shares of Quanta Services in a report on Monday, October 5th. Morgan Stanley cut Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Quanta Services to a “sell” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $763.31.

Quanta Services Company Profile

Quanta Services, Inc provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure.

The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.

Founded in 1997, Quanta serves customers primarily in North America, with operations also extending to Australia and other international markets.