Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Park Place Capital Corp

Park Place Capital Corp boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 927.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 914 shares of the construction company’s stock after acquiring an additional 825 shares during the period. Park Place Capital Corp’s holdings in Quanta Services were worth $237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Diversified Trust Co acquired a new position in Quanta Services in the 1st quarter valued at about $328,000. Private Ocean LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $26,000. Hennion & Walsh Asset Management Inc. raised its stake in Quanta Services by 44.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,848 shares of the construction company’s stock valued at $2,818,000 after buying an additional 3,334 shares in the last quarter. Garrison Bradford & Associates Inc. increased its stake in Quanta Services by 6.5% in the first quarter. Garrison Bradford & Associates Inc. now owns 18,708 shares of the construction company’s stock valued at $4,860,000 after purchasing an additional 1,145 shares during the last quarter. Finally, Reliant Investment Management LLC increased its position in shares of Quanta Services by 0.4% during the first quarter. Reliant Investment Management LLC now owns 28,404 shares of the construction company’s stock worth $7,379,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 2.5 %

Shares of PWR traded down $6.39 during trading hours on Monday, reaching $247.61. The stock had a trading volume of 1,347,865 shares, compared to its average volume of 941,859. The company has a market cap of $36.25 billion, a P/E ratio of 48.03 and a beta of 1.03. 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 of $268.79 and a 200 day moving average of $241.00. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87.

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. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. DA Davidson raised 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. Evercore ISI boosted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Citigroup increased their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Truist Financial restated a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $268.85.

About Quanta Services

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.