Sunbelt Securities Inc. Has $422,000 Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Sunbelt Securities Inc. increased its position in Quanta Services, Inc. (NYSE:PWR) by 523.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,626 shares of the construction company’s stock after purchasing an additional 1,365 shares during the quarter. Sunbelt Securities Inc.’s holdings in Quanta Services were worth $422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC raised its stake in shares of Quanta Services by 1.6% during the third 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. MQS Management LLC bought a new stake in shares of Quanta Services during the 3rd quarter valued at $300,000. Qube Research & Technologies Ltd lifted its stake in shares of Quanta Services by 1,494.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after purchasing an additional 285,047 shares during the period. Private Advisory Group LLC boosted its position in shares of Quanta Services by 5.4% in the 3rd quarter. Private Advisory Group LLC now owns 3,263 shares of the construction company’s stock worth $610,000 after purchasing an additional 166 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Quanta Services by 35.2% during the third quarter. Bamco Inc. NY now owns 326,475 shares of the construction company’s stock worth $61,074,000 after purchasing an additional 85,008 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 2.4 %

NYSE:PWR opened at $266.47 on Thursday. The company has a market cap of $39.01 billion, a PE ratio of 51.64 and a beta of 1.05. The stock has a 50-day simple moving average of $268.15 and a 200 day simple moving average of $239.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is 6.98%.

Analyst Ratings Changes

A number of brokerages have issued reports on PWR. Evercore ISI raised their target price on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Citigroup upped their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Argus lifted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, DA Davidson upped their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.