Crossmark Global Holdings Inc. Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Crossmark Global Holdings Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,657 shares of the construction company’s stock after buying an additional 313 shares during the period. Crossmark Global Holdings Inc.’s holdings in Quanta Services were worth $1,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $298,000. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $53,949,000. Larson Financial Group LLC raised its holdings in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after buying an additional 33 shares during the last quarter. Independent Advisor Alliance boosted its position in Quanta Services by 8.5% during the 4th quarter. Independent Advisor Alliance now owns 11,073 shares of the construction company’s stock valued at $3,500,000 after buying an additional 864 shares during the period. Finally, Sage Mountain Advisors LLC bought a new stake in Quanta Services in the 4th quarter worth $204,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR opened at $382.01 on Thursday. The firm’s 50-day simple moving average is $352.83 and its two-hundred day simple moving average is $309.79. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $388.00. The stock has a market cap of $56.64 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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 company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Northland Capmk lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, UBS Group set a $413.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Thursday, June 12th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.95.

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.