Spire Wealth Management Has $9.03 Million Position in Quanta Services, Inc. (NYSE:PWR)

Spire Wealth Management grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 13.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 35,506 shares of the construction company’s stock after buying an additional 4,290 shares during the quarter. Spire Wealth Management’s holdings in Quanta Services were worth $9,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Daymark Wealth Partners LLC increased its position in Quanta Services by 390.1% in the 1st quarter. Daymark Wealth Partners LLC now owns 61,277 shares of the construction company’s stock valued at $15,575,000 after acquiring an additional 48,774 shares in the last quarter. Archford Capital Strategies LLC grew its stake in shares of Quanta Services by 188.7% during the first quarter. Archford Capital Strategies LLC now owns 3,092 shares of the construction company’s stock valued at $786,000 after purchasing an additional 2,021 shares during the last quarter. Petros Family Wealth LLC increased its holdings in shares of Quanta Services by 24.2% in the first quarter. Petros Family Wealth LLC now owns 1,139 shares of the construction company’s stock valued at $290,000 after purchasing an additional 222 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Quanta Services by 5.3% in 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. Finally, Stiles Financial Services Inc lifted its holdings in Quanta Services by 8.2% during the 1st quarter. Stiles Financial Services Inc now owns 920 shares of the construction company’s stock worth $234,000 after buying an additional 70 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 1.9%

Shares of NYSE PWR opened at $372.59 on Wednesday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $373.30. The stock has a market cap of $55.24 billion, a price-to-earnings ratio of 60.10, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $330.13 and its 200-day moving average is $305.84.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given 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 dividend payout ratio is currently 6.45%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, B. Riley boosted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Six equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.