Wahed Invest LLC Has $1.15 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Wahed Invest LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,646 shares of the construction company’s stock after purchasing an additional 120 shares during the quarter. Wahed Invest LLC’s holdings in Quanta Services were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrow Financial Corp increased its stake in shares of Quanta Services by 26.2% in the fourth quarter. Arrow Financial Corp now owns 4,015 shares of the construction company’s stock worth $1,269,000 after acquiring an additional 834 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $3,819,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $2,563,000. Comerica Bank increased its holdings in Quanta Services by 4.0% in the fourth quarter. Comerica Bank now owns 37,832 shares of the construction company’s stock worth $11,957,000 after buying an additional 1,451 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new stake in Quanta Services in the fourth quarter valued at approximately $1,876,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $322.50 on Friday. The stock has a market capitalization of $47.82 billion, a P/E ratio of 53.48, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a 50 day moving average of $263.79 and a 200-day moving average of $300.24.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 23.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. B. Riley reiterated a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.70.

Quanta Services Company 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.