Raymond James Financial Services Advisors Inc. grew its position in shares of Quanta Services Inc (NYSE:PWR) by 6.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 15,001 shares of the construction company’s stock after acquiring an additional 961 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Quanta Services were worth $566,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Fort L.P. acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $39,000. Valeo Financial Advisors LLC lifted its holdings in shares of Quanta Services by 2,541.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock valued at $55,000 after buying an additional 1,398 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Quanta Services by 53.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock valued at $56,000 after buying an additional 649 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Quanta Services during the 1st quarter valued at about $62,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Quanta Services during the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 94.89% of the company’s stock.
PWR opened at $37.95 on Friday. Quanta Services Inc has a twelve month low of $27.90 and a twelve month high of $41.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 1.95. The company has a market capitalization of $5.30 billion, a P/E ratio of 15.00 and a beta of 1.16.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.13. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts expect that Quanta Services Inc will post 3.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.04 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.42%. Quanta Services’s dividend payout ratio (DPR) is currently 6.32%.
Several brokerages have recently issued reports on PWR. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price target for the company in a report on Monday, February 25th. DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Citigroup set a $47.00 target price on Quanta Services and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, B. Riley restated a “buy” rating and issued a $47.00 target price (down from $56.00) on shares of Quanta Services in a report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Quanta Services currently has an average rating of “Hold” and a consensus price target of $42.80.
In other Quanta Services news, insider James Redgie Probst sold 100,000 shares of Quanta Services stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $40.00, for a total value of $4,000,000.00. Following the transaction, the insider now directly owns 47,420 shares of the company’s stock, valued at approximately $1,896,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.63, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 8,953 shares in the company, valued at $327,948.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,445 shares of company stock valued at $4,162,180. Corporate insiders own 1.20% of the company’s stock.
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About Quanta Services
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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