Quanta Services, Inc. (NYSE:PWR) Position Trimmed by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,167 shares of the construction company’s stock after selling 170 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Quanta Services were worth $3,940,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of PWR. Private Ocean LLC acquired a new stake in shares of Quanta Services in the first quarter worth $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth about $34,000. Valley National Advisers Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $41,000. Finally, Vestor Capital LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock traded up $4.97 during trading on Wednesday, reaching $252.75. 215,059 shares of the stock were exchanged, compared to its average volume of 936,685. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $37.00 billion, a P/E ratio of 48.02 and a beta of 1.03. The stock has a 50 day simple moving average of $268.75 and a 200-day simple moving average of $241.45.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

PWR has been the subject of a number of recent research reports. Evercore ISI upped their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Citigroup increased their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Truist Financial restated a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Argus lifted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, B. Riley upped their price objective on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $268.85.

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.