Aptus Capital Advisors LLC Acquires 7,761 Shares of Quanta Services, Inc. $PWR

Aptus Capital Advisors LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 19.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 48,699 shares of the construction company’s stock after purchasing an additional 7,761 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Quanta Services were worth $12,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PWR. Banque Transatlantique SA bought a new position in Quanta Services during the fourth quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $42,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised their price target on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Stifel Nicolaus upped their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Northland Securities downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Finally, DA Davidson boosted their target price on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $392.45.

Quanta Services Stock Performance

NYSE:PWR opened at $383.43 on Tuesday. The stock’s 50-day moving average is $383.41 and its 200-day moving average is $323.25. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $57.13 billion, a P/E ratio of 59.35, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10.

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

Quanta Services Dividend Announcement

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

Quanta Services 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.