Brookstone Capital Management Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Brookstone Capital Management increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,672 shares of the construction company’s stock after purchasing an additional 1,501 shares during the period. Brookstone Capital Management’s holdings in Quanta Services were worth $3,292,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PWR. Sunbelt Securities Inc. raised its position in shares of Quanta Services by 523.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,626 shares of the construction company’s stock valued at $422,000 after buying an additional 1,365 shares during the period. Mechanics Bank Trust Department raised its position in Quanta Services by 63.2% in the first quarter. Mechanics Bank Trust Department now owns 4,118 shares of the construction company’s stock valued at $1,070,000 after purchasing an additional 1,594 shares during the period. Riverview Trust Co acquired a new position in shares of Quanta Services in the 1st quarter valued at $66,000. AdvisorNet Financial Inc grew its holdings in shares of Quanta Services by 13.5% during the 1st quarter. AdvisorNet Financial Inc now owns 2,269 shares of the construction company’s stock worth $589,000 after purchasing an additional 269 shares during the period. Finally, CHICAGO TRUST Co NA acquired a new stake in shares of Quanta Services during the 1st quarter worth about $211,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $267.06 on Friday. The firm has a market capitalization of $39.09 billion, a PE ratio of 51.76 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 fifty day moving average price is $268.58 and its 200 day moving average price is $240.17. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87.

Quanta Services (NYSE:PWR) last issued its 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. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Citigroup lifted their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. The Goldman Sachs Group upped their price target on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. B. Riley lifted their price objective on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Evercore ISI increased their target price on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $268.85.

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.