Golden State Wealth Management LLC Grows Position in Quanta Services, Inc. (NYSE:PWR)

Golden State Wealth Management LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 123.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,246 shares of the construction company’s stock after purchasing an additional 689 shares during the period. Golden State Wealth Management LLC’s holdings in Quanta Services were worth $317,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Spire Wealth Management grew its position in Quanta Services by 13.7% during the 1st quarter. Spire Wealth Management now owns 35,506 shares of the construction company’s stock worth $9,025,000 after purchasing an additional 4,290 shares during the last quarter. Daymark Wealth Partners LLC grew its position in Quanta Services by 390.1% during the 1st quarter. Daymark Wealth Partners LLC now owns 61,277 shares of the construction company’s stock worth $15,575,000 after purchasing an additional 48,774 shares during the last quarter. Archford Capital Strategies LLC grew its position in Quanta Services by 188.7% during the 1st quarter. Archford Capital Strategies LLC now owns 3,092 shares of the construction company’s stock worth $786,000 after purchasing an additional 2,021 shares during the last quarter. Petros Family Wealth LLC grew its position in Quanta Services by 24.2% during the 1st quarter. Petros Family Wealth LLC now owns 1,139 shares of the construction company’s stock worth $290,000 after purchasing an additional 222 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Quanta Services by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,751 shares of the construction company’s stock worth $21,542,000 after purchasing an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. TD Cowen upped their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $349.65.

Quanta Services Stock Performance

PWR opened at $381.68 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a fifty day moving average price of $336.76 and a 200 day moving average price of $307.14. The stock has a market cap of $56.59 billion, a P/E ratio of 61.56, a P/E/G ratio of 2.95 and a beta of 1.07. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $382.79.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. Quanta Services’s dividend payout ratio is currently 6.45%.

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.