Tower Wealth Partners Inc. Has $270,000 Holdings in Quanta Services, Inc. (NYSE:PWR)

Tower Wealth Partners Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040 shares of the construction company’s stock after buying an additional 62 shares during the period. Tower Wealth Partners Inc.’s holdings in Quanta Services were worth $270,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PWR. Private Ocean LLC bought a new position in shares of Quanta Services in the first quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $34,000. Hazlett Burt & Watson Inc. boosted its position in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Valley National Advisers Inc. acquired a new stake in shares of Quanta Services in the fourth quarter worth $41,000. Finally, Vestor Capital LLC acquired a new position in Quanta Services during the 4th quarter valued at $42,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.1 %

Shares of PWR stock opened at $247.78 on Wednesday. The company has a market capitalization of $36.27 billion, a P/E ratio of 48.02 and a beta of 1.03. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $268.75 and a 200 day moving average price of $241.45.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is 6.98%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PWR shares. Robert W. Baird raised their price target on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. B. Riley upped their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. DA Davidson lifted their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Citigroup upped their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Evercore ISI lifted their price target on shares of Quanta Services from $255.00 to $288.00 and gave the stock 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $268.85.

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.