Park Avenue Securities LLC Has $4.25 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Park Avenue Securities LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,739 shares of the construction company’s stock after buying an additional 177 shares during the quarter. Park Avenue Securities LLC’s holdings in Quanta Services were worth $4,253,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after buying an additional 105,355 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after buying an additional 156,627 shares during the period. Capital World Investors lifted its stake in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares during the period. Finally, Norges Bank bought a new stake in shares of Quanta Services in the fourth quarter valued at about $335,777,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $0.47 during midday trading on Wednesday, reaching $248.50. The company had a trading volume of 1,349,451 shares, compared to its average volume of 966,410. The company has a current ratio of 1.30, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 48.10 and a beta of 1.03. The stock has a fifty day simple moving average of $263.35 and a 200 day simple moving average of $249.84. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 earnings per share. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current 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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Analyst Ratings Changes

Several research firms recently weighed in on PWR. 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 note on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research note on Monday. Citigroup raised their price target on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI raised 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. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

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.