My Legacy Advisors LLC Acquires 150 Shares of Quanta Services, Inc. (NYSE:PWR)

My Legacy Advisors LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,305 shares of the construction company’s stock after buying an additional 150 shares during the quarter. My Legacy Advisors LLC’s holdings in Quanta Services were worth $1,094,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC bought a new position in Quanta Services in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in Quanta Services in the fourth quarter worth approximately $34,000. Finally, Rakuten Securities Inc. grew its stake in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $348.37 on Wednesday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock has a fifty day moving average price of $309.76 and a 200-day moving average price of $304.40. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market cap of $51.65 billion, a PE ratio of 57.77, a P/E/G ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last issued 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. DA Davidson increased their price objective on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Argus set a $375.00 price objective on Quanta Services in a research note on Monday, May 5th. Finally, Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $347.35.

About Quanta Services

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.