Park Place Capital Corp Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Park Place Capital Corp raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 117.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,992 shares of the construction company’s stock after purchasing an additional 1,078 shares during the period. Park Place Capital Corp’s holdings in Quanta Services were worth $506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after buying an additional 910 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Quanta Services in the 1st quarter valued at about $3,552,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the 1st quarter worth $26,000. Cetera Advisors LLC increased its stake in Quanta Services by 74.2% during the 1st quarter. Cetera Advisors LLC now owns 19,352 shares of the construction company’s stock valued at $5,028,000 after purchasing an additional 8,246 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PWR shares. DA Davidson lifted their target price on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Robert W. Baird upped their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Citigroup raised their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Argus increased their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $286.18.

Quanta Services Stock Down 1.0 %

Shares of Quanta Services stock traded down $2.37 on Monday, hitting $238.55. The company had a trading volume of 614,731 shares, compared to its average volume of 956,481. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.30. The stock has a 50 day moving average of $264.85 and a 200-day moving average of $249.25. The stock has a market capitalization of $34.92 billion, a price-to-earnings ratio of 44.98 and a beta of 1.03.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company earned $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is presently 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.