Dynamic Advisor Solutions LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Dynamic Advisor Solutions LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,331 shares of the construction company’s stock, valued at approximately $1,609,000.

Other institutional investors also recently modified their holdings of the company. Allstate Corp bought a new stake in Quanta Services during the fourth quarter worth about $1,357,000. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth about $298,000. Truist Financial Corp lifted its position in Quanta Services by 3.9% during the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock worth $151,659,000 after purchasing an additional 18,206 shares during the period. Blue Chip Partners LLC lifted its position in Quanta Services by 78.2% during the fourth quarter. Blue Chip Partners LLC now owns 56,681 shares of the construction company’s stock worth $17,914,000 after purchasing an additional 24,866 shares during the period. Finally, Principal Securities Inc. lifted its position in Quanta Services by 9.0% during the fourth quarter. Principal Securities Inc. now owns 2,259 shares of the construction company’s stock worth $714,000 after purchasing an additional 187 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.0%

NYSE:PWR opened at $361.77 on Tuesday. The firm’s 50 day simple moving average is $318.95 and its 200 day simple moving average is $304.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $367.00. The company has a market cap of $53.64 billion, a PE ratio of 60.00, a P/E/G ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the company earned $1.41 EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s payout ratio is 6.45%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PWR shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. B. Riley upped their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $349.65.

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.