Farther Finance Advisors LLC Buys 588 Shares of Quanta Services, Inc. (NYSE:PWR)

Farther Finance Advisors LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 60.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,568 shares of the construction company’s stock after buying an additional 588 shares during the quarter. Farther Finance Advisors LLC’s holdings in Quanta Services were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC lifted its holdings in 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 in the last quarter. TBH Global Asset Management LLC grew its position in Quanta Services by 0.7% during the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock worth $1,566,000 after acquiring an additional 34 shares during the last quarter. Rothschild Investment LLC grew its position in Quanta Services by 7.9% during the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company’s stock worth $146,000 after acquiring an additional 34 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in Quanta Services by 1.9% in the 4th quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company’s stock worth $643,000 after buying an additional 37 shares during the period. Finally, Pinion Investment Advisors LLC lifted its holdings in Quanta Services by 2.7% in the 4th quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company’s stock worth $485,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. B. Riley raised their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Piper Sandler restated an “overweight” rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $349.65.

Quanta Services Trading Up 1.0%

PWR stock opened at $361.77 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $367.00. The stock has a market cap of $53.64 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 1.41 and a beta of 1.07. The business’s 50-day moving average is $318.95 and its 200 day moving average is $304.51.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 EPS. Quanta Services’s revenue was up 23.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.45%.

Quanta Services Company 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.