Congress Asset Management Co. Has $11.98 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Congress Asset Management Co. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,148 shares of the construction company’s stock after buying an additional 406 shares during the period. Congress Asset Management Co.’s holdings in Quanta Services were worth $11,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Banque Transatlantique SA acquired a new stake in Quanta Services in the fourth quarter valued at $25,000. Quarry LP bought a new stake in Quanta Services during the fourth quarter valued at $26,000. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in Quanta Services during the fourth quarter valued at $34,000. Finally, Rakuten Securities Inc. boosted its position in Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after acquiring an additional 113 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $361.20 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The firm’s 50-day simple moving average is $306.00 and its 200 day simple moving average is $304.24.

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

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PWR shares. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. B. Riley increased 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. Evercore ISI increased their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, Truist Financial cut their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.35.

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.