Brown Miller Wealth Management LLC Buys New Stake in Quanta Services, Inc. (NYSE:PWR)

Brown Miller Wealth Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,332 shares of the construction company’s stock, valued at approximately $339,000.

Several other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the 4th quarter worth $25,000. Quarry LP purchased a new stake in Quanta Services in the 4th quarter worth $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in Quanta Services in the 4th quarter worth $34,000. Finally, Rakuten Securities Inc. increased its holdings in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after acquiring an additional 113 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $361.77 on Tuesday. The firm has a market capitalization of $53.64 billion, a P/E ratio of 60.00, a P/E/G ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $367.00. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $318.95 and its two-hundred day moving average is $304.51.

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, topping analysts’ consensus estimates 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 analyst estimates of $5.88 billion. During the same period last year, the firm posted $1.41 earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PWR shares. Citigroup cut their price target on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. Finally, B. Riley upped their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.