Bourgeon Capital Management LLC Sells 49 Shares of Quanta Services, Inc. (NYSE:PWR)

Bourgeon Capital Management LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,869 shares of the construction company’s stock after selling 49 shares during the period. Quanta Services comprises about 2.1% of Bourgeon Capital Management LLC’s portfolio, making the stock its 20th largest holding. Bourgeon Capital Management LLC’s holdings in Quanta Services were worth $9,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PWR. Kestra Private Wealth Services LLC grew its holdings in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Allstate Corp bought a new position in shares of Quanta Services during the 4th quarter worth approximately $1,357,000. Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $298,000. Quaero Capital S.A. raised its stake in Quanta Services by 198.2% in the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock valued at $2,253,000 after acquiring an additional 4,738 shares during the period. Finally, Truist Financial Corp lifted its holdings in Quanta Services by 3.9% during the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock valued at $151,659,000 after purchasing an additional 18,206 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR opened at $345.57 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The firm has a market cap of $51.24 billion, a P/E ratio of 57.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The business’s fifty day moving average is $297.68 and its 200-day moving average is $303.25.

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

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PWR shares. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Stifel Nicolaus upped their price target on shares of Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Evercore ISI raised their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. B. Riley boosted their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Six investment 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. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.85.

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.