Quanta Services, Inc. (NYSE:PWR) Shares Acquired by BNC Wealth Management LLC

BNC Wealth Management LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,978 shares of the construction company’s stock after buying an additional 927 shares during the period. Quanta Services comprises approximately 1.3% of BNC Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. BNC Wealth Management LLC’s holdings in Quanta Services were worth $3,553,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after buying an additional 33 shares during the last quarter. TBH Global Asset Management LLC boosted its holdings in Quanta Services by 0.7% in the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock worth $1,566,000 after buying an additional 34 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Quanta Services by 7.9% in the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company’s stock worth $146,000 after buying an additional 34 shares during the last quarter. Wealthspire Advisors LLC boosted 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 last quarter. Finally, Pinion Investment Advisors LLC boosted 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 last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.2%

Shares of NYSE PWR opened at $357.86 on Friday. The stock has a market cap of $53.06 billion, a P/E ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. 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 $365.88. The business’s fifty day simple moving average is $316.61 and its 200-day simple moving average is $304.93.

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, beating 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 business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BMO Capital Markets set a $352.00 target price on Quanta Services in a report on Friday, May 2nd. Piper Sandler restated an “overweight” rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Argus set a $375.00 target price on Quanta Services in a report on Monday, May 5th. Citigroup lowered their target price on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Stifel Nicolaus boosted their target price on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $349.65.

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.