Exchange Traded Concepts LLC Acquires 11,756 Shares of Quanta Services, Inc. (NYSE:PWR)

Exchange Traded Concepts LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 117.6% during the first quarter, Holdings Channel reports. The fund owned 21,752 shares of the construction company’s stock after acquiring an additional 11,756 shares during the period. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $5,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Larson Financial Group LLC grew its stake in shares of Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after purchasing an additional 33 shares during the last quarter. TBH Global Asset Management LLC boosted its position in Quanta Services by 0.7% in the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock valued at $1,566,000 after buying an additional 34 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Quanta Services by 7.9% in the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company’s stock valued at $146,000 after buying an additional 34 shares during the period. Wealthspire Advisors LLC raised its position in shares of Quanta Services by 1.9% during the fourth quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company’s stock worth $643,000 after acquiring an additional 37 shares during the last quarter. Finally, Pinion Investment Advisors LLC lifted its stake in shares of Quanta Services by 2.7% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company’s stock valued at $485,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. UBS Group boosted their price target on shares of Quanta Services from $369.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, TD Cowen lifted their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.65.

Quanta Services Stock Down 0.2%

NYSE:PWR opened at $357.86 on Monday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The stock has a 50-day moving average price of $316.61 and a two-hundred day moving average price of $304.39. The stock has a market cap of $53.06 billion, a price-to-earnings ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

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

Quanta Services Announces Dividend

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

About Quanta Services

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.