Whitaker Myers Wealth Managers LTD. Takes Position in Quanta Services, Inc. (NYSE:PWR)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Quanta Services in the fourth quarter valued at $544,937,000. Capital World Investors increased its stake in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. GAMMA Investing LLC raised its position in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanta Services in the fourth quarter worth approximately $203,068,000. Finally, Bank of America Corp DE boosted its holdings in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. B. Riley lifted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Argus set a $375.00 price target on shares of Quanta Services in a research report on Monday, May 5th. Stifel Nicolaus increased their price target on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, DA Davidson lifted their price objective on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $347.35.

Quanta Services Price Performance

Shares of PWR opened at $361.20 on Friday. The business’s fifty day moving average is $306.00 and its 200 day moving average is $304.24. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $53.55 billion, a P/E ratio of 59.90, a P/E/G ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last released 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. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.