First Trust Direct Indexing L.P. Raises Position in Quanta Services, Inc. (NYSE:PWR)

First Trust Direct Indexing L.P. increased its holdings in Quanta Services, Inc. (NYSE:PWRFree Report) by 31.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,114 shares of the construction company’s stock after buying an additional 746 shares during the period. First Trust Direct Indexing L.P.’s holdings in Quanta Services were worth $809,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Ocean LLC purchased a new stake in Quanta Services during the first quarter valued at about $26,000. Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services during the fourth quarter valued at about $34,000. Valley National Advisers Inc. purchased a new stake in Quanta Services during the fourth quarter valued at about $41,000. Finally, Vestor Capital LLC purchased a new stake in Quanta Services during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PWR. B. Riley raised their price objective on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Evercore ISI raised their price objective on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $268.85.

Read Our Latest Analysis on Quanta Services

Quanta Services Stock Performance

Quanta Services stock opened at $252.53 on Friday. The stock’s 50 day simple moving average is $268.59 and its two-hundred day simple moving average is $241.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 48.94 and a beta of 1.03. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87.

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 6.98%.

About Quanta Services

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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