Riverview Trust Co Purchases Shares of 255 Quanta Services, Inc. (NYSE:PWR)

Riverview Trust Co purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 255 shares of the construction company’s stock, valued at approximately $66,000.

Several other hedge funds have also recently modified their holdings of PWR. Artisan Partners Limited Partnership increased its holdings in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares in the last quarter. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter valued at about $335,777,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Quanta Services by 20,298.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after acquiring an additional 1,052,496 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares in the last quarter. Finally, Capital World Investors increased its holdings in Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after buying an additional 624,545 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.5 %

Shares of NYSE:PWR opened at $272.83 on Wednesday. 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 $39.94 billion, a price-to-earnings ratio of 52.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The business’s 50 day moving average price is $267.74 and its 200-day moving average price is $239.80.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.96 billion. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. B. Riley increased their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. DA Davidson upped their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial restated a “buy” rating and issued a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. The Goldman Sachs Group upped their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $268.85.

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.