Balefire LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Balefire LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 62.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,395 shares of the construction company’s stock after purchasing an additional 534 shares during the quarter. Balefire LLC’s holdings in Quanta Services were worth $355,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PWR. Larson Financial Group LLC boosted its stake in shares of Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after purchasing an additional 33 shares during the last quarter. Pinion Investment Advisors LLC raised its stake in shares of Quanta Services by 2.7% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company’s stock valued at $485,000 after purchasing an additional 40 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in shares of Quanta Services by 0.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company’s stock valued at $4,256,000 after purchasing an additional 41 shares during the period. Quent Capital LLC raised its stake in shares of Quanta Services by 3.2% during the first quarter. Quent Capital LLC now owns 1,362 shares of the construction company’s stock valued at $346,000 after purchasing an additional 42 shares during the period. Finally, Tower Wealth Partners Inc. raised its stake in shares of Quanta Services by 3.8% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,165 shares of the construction company’s stock valued at $368,000 after purchasing an additional 43 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PWR. UBS Group set a $413.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research note on Thursday, June 12th. Piper Sandler reissued an “overweight” rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Citigroup reduced their price objective 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. Truist Financial dropped their price target 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. Finally, Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. 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 company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $349.65.

Quanta Services Stock Up 1.6%

Shares of NYSE PWR opened at $380.04 on Friday. The stock has a market cap of $56.34 billion, a PE ratio of 61.30, a PEG ratio of 2.91 and a beta of 1.07. The business has a fifty day moving average of $334.47 and a two-hundred day moving average of $306.72. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $381.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR) last announced its earnings results 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 during the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 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.