Strong Tower Advisory Services Sells 67 Shares of Quanta Services, Inc. (NYSE:PWR)

Strong Tower Advisory Services lessened its position in Quanta Services, Inc. (NYSE:PWR) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,125 shares of the construction company’s stock after selling 67 shares during the period. Quanta Services accounts for 1.9% of Strong Tower Advisory Services’ investment portfolio, making the stock its 18th biggest position. Strong Tower Advisory Services’ holdings in Quanta Services were worth $4,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PWR. Kestra Advisory Services LLC grew its position in shares of Quanta Services by 4.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,652 shares of the construction company’s stock worth $1,431,000 after buying an additional 352 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Quanta Services by 33.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 156,338 shares of the construction company’s stock worth $29,246,000 after buying an additional 39,610 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Quanta Services by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 10,865 shares of the construction company’s stock worth $2,051,000 after buying an additional 543 shares during the last quarter. LPL Financial LLC grew its position in shares of Quanta Services by 16.4% in the 3rd quarter. LPL Financial LLC now owns 188,085 shares of the construction company’s stock worth $35,185,000 after buying an additional 26,433 shares during the last quarter. Finally, Mariner LLC grew its position in shares of Quanta Services by 1.6% in the 3rd quarter. Mariner LLC now owns 22,428 shares of the construction company’s stock worth $4,196,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PWR. TD Cowen lifted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI lifted their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Truist Financial restated a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. The Goldman Sachs Group lifted their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $268.85.

Quanta Services Stock Down 1.0 %

Shares of PWR stock traded down $2.70 during mid-day trading on Tuesday, hitting $271.53. The company’s stock had a trading volume of 60,584 shares, compared to its average volume of 925,410. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The business has a 50-day moving average price of $267.26 and a 200 day moving average price of $239.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $39.75 billion, a price-to-earnings ratio of 53.15 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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 return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Research analysts predict that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Quanta Services 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.