Empirical Finance LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Empirical Finance LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,107 shares of the construction company’s stock after acquiring an additional 175 shares during the period. Empirical Finance LLC’s holdings in Quanta Services were worth $1,327,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wedmont Private Capital raised its stake in Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares during the last quarter. Tower Wealth Partners Inc. raised its stake in Quanta Services by 6.3% in the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its stake in Quanta Services by 0.4% in the 1st quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock valued at $4,832,000 after purchasing an additional 65 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Truist Financial restated a “buy” rating and issued a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Robert W. Baird lifted their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, DA Davidson lifted their price target on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.25.

Quanta Services Stock Performance

Quanta Services stock opened at $268.81 on Friday. The stock’s 50 day moving average price is $268.83 and its 200 day moving average price is $243.48. The firm has a market capitalization of $39.35 billion, a PE ratio of 52.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87.

Quanta Services (NYSE:PWR) last released its quarterly 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 firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

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.