Ashton Thomas Private Wealth LLC Buys 26 Shares of Quanta Services, Inc. $PWR

Ashton Thomas Private Wealth LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,250 shares of the construction company’s stock after acquiring an additional 26 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Quanta Services were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the 1st quarter valued at $25,000. Copia Wealth Management raised its stake in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Solstein Capital LLC raised its stake in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. Finally, WPG Advisers LLC bought a new stake in Quanta Services in the 1st quarter valued at $31,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. DA Davidson upped their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Truist Financial upped their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Evercore ISI upped their price objective on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Stock Performance

PWR opened at $449.28 on Thursday. The firm has a market cap of $66.95 billion, a P/E ratio of 69.55, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $459.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The business’s fifty day moving average is $405.20 and its 200-day moving average is $372.57.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 6.19%.

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.