Cetera Advisors LLC Purchases 8,246 Shares of Quanta Services, Inc. (NYSE:PWR)

Cetera Advisors LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 74.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,352 shares of the construction company’s stock after buying an additional 8,246 shares during the quarter. Cetera Advisors LLC’s holdings in Quanta Services were worth $5,028,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital grew its holdings in shares of Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the last quarter. 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 purchasing an additional 52 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Quanta Services by 4.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares during the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of Quanta Services by 6.3% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. Finally, SVB Wealth LLC grew its holdings in Quanta Services by 4.6% during the 1st quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock worth $375,000 after acquiring an additional 63 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 5.5 %

Shares of Quanta Services stock traded down $13.96 during trading on Friday, reaching $240.92. 1,787,626 shares of the company traded hands, compared to its average volume of 1,038,446. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.32. The company has a 50 day moving average price of $264.85 and a 200-day moving average price of $248.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The firm has a market capitalization of $35.27 billion, a PE ratio of 46.69 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date was Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is 6.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial reissued a “buy” rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $281.00.

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.