Goldstein Advisors LLC Decreases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Goldstein Advisors LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 7.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 829 shares of the construction company’s stock after selling 67 shares during the period. Goldstein Advisors LLC’s holdings in Quanta Services were worth $211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Quanta Services in the 4th quarter valued at $544,937,000. Capital World Investors grew its position in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. GAMMA Investing LLC grew its position in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock valued at $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Raymond James Financial Inc. bought a new position in Quanta Services in the 4th quarter valued at $203,068,000. Finally, Bank of America Corp DE grew its position in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research report on Monday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, TD Cowen upped their price objective on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Six investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.65.

Quanta Services Price Performance

Shares of PWR stock opened at $374.05 on Thursday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $375.53. The stock’s 50-day moving average is $332.22 and its 200 day moving average is $306.31. The company has a market cap of $55.46 billion, a P/E ratio of 60.33, a PEG ratio of 2.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is currently 6.45%.

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.