Salomon & Ludwin LLC Invests $26,000 in Quanta Services, Inc. (NYSE:PWR)

Salomon & Ludwin LLC purchased a new position in Quanta Services, Inc. (NYSE:PWRFree Report) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 100 shares of the construction company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. AQR Capital Management LLC raised its holdings in shares of Quanta Services by 7.9% in the third quarter. AQR Capital Management LLC now owns 34,368 shares of the construction company’s stock worth $6,429,000 after buying an additional 2,528 shares during the period. Schroder Investment Management Group grew its stake in Quanta Services by 715.9% in the third quarter. Schroder Investment Management Group now owns 30,557 shares of the construction company’s stock worth $5,716,000 after purchasing an additional 26,812 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Quanta Services by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 57,968 shares of the construction company’s stock worth $10,847,000 after purchasing an additional 1,338 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Quanta Services in the third quarter worth approximately $2,911,000. Finally, Morgan Stanley grew its stake in Quanta Services by 3.3% in the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.1 %

Quanta Services stock opened at $254.80 on Wednesday. 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 stock has a market capitalization of $37.30 billion, a price-to-earnings ratio of 49.38 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The business has a fifty day moving average price of $268.36 and a 200-day moving average price of $242.85.

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Equities research analysts forecast 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 given a $0.09 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is 6.98%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PWR. Citigroup increased their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Evercore ISI increased their price objective on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Robert W. Baird increased their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, B. Riley increased their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $268.85.

Read Our Latest Stock Report on PWR

Quanta Services Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWRFree Report).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.