Quanta Services, Inc. (NYSE:PWR) Stock Position Lowered by ZRC Wealth Management LLC

ZRC Wealth Management LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,015 shares of the construction company’s stock after selling 100 shares during the quarter. ZRC Wealth Management LLC’s holdings in Quanta Services were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its stake in shares of Quanta Services by 40.5% during the 3rd quarter. Gotham Asset Management LLC now owns 8,978 shares of the construction company’s stock worth $1,680,000 after acquiring an additional 2,588 shares in the last quarter. AQR Capital Management LLC increased its stake in Quanta Services by 7.9% in the 3rd quarter. AQR Capital Management LLC now owns 34,368 shares of the construction company’s stock worth $6,429,000 after purchasing an additional 2,528 shares in the last quarter. AXQ Capital LP acquired a new stake in Quanta Services during the 3rd quarter worth about $524,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Quanta Services in the third quarter worth about $22,174,000. Finally, Lido Advisors LLC increased its position in shares of Quanta Services by 1,205.9% in the third quarter. Lido Advisors LLC now owns 29,082 shares of the construction company’s stock worth $5,440,000 after acquiring an additional 26,855 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR stock traded up $6.82 during trading on Thursday, hitting $254.60. The company had a trading volume of 601,443 shares, compared to its average volume of 832,462. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $268.78 and a two-hundred day moving average price of $241.54. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a market cap of $37.27 billion, a P/E ratio of 49.33 and a beta of 1.03.

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

Quanta Services Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup lifted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird upped their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Truist Financial restated a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Quanta Services 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.