Whitaker Myers Wealth Managers LTD. Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Whitaker Myers Wealth Managers LTD. acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,478 shares of the construction company’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Kestra Private Wealth Services LLC grew its holdings in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Allstate Corp purchased a new position in Quanta Services in the fourth quarter worth $1,357,000. Brighton Jones LLC bought a new position in Quanta Services in the 4th quarter valued at $298,000. Quaero Capital S.A. increased its position in shares of Quanta Services by 198.2% during the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock valued at $2,253,000 after purchasing an additional 4,738 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Quanta Services by 3.9% during the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock worth $151,659,000 after purchasing an additional 18,206 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $361.20 on Friday. The firm has a market capitalization of $53.55 billion, a P/E ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a fifty day moving average price of $306.00 and a 200-day moving average price of $304.24.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Monday, May 5th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research report on Friday, May 2nd. Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.35.

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.