Garrison Bradford & Associates Inc. Buys 1,145 Shares of Quanta Services, Inc. (NYSE:PWR)

Garrison Bradford & Associates Inc. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,708 shares of the construction company’s stock after acquiring an additional 1,145 shares during the period. Quanta Services accounts for approximately 5.0% of Garrison Bradford & Associates Inc.’s portfolio, making the stock its 7th biggest holding. Garrison Bradford & Associates Inc.’s holdings in Quanta Services were worth $4,860,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after buying an additional 191,334 shares during the last quarter. Capital World Investors boosted its stake in Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after buying an additional 624,545 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new stake in Quanta Services in the 4th quarter worth about $335,777,000. Finally, Morgan Stanley boosted its stake in Quanta Services by 3.3% in the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after buying an additional 49,602 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. DA Davidson raised their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Citigroup raised their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a 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 report on Tuesday, May 28th. Finally, Argus raised their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $268.85.

Quanta Services Stock Down 4.9 %

PWR stock traded down $12.97 during midday trading on Friday, hitting $254.09. 2,163,579 shares of the company’s stock were exchanged, compared to its average volume of 814,764. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The firm has a 50 day moving average price of $268.79 and a 200-day moving average price of $240.53. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 49.23 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (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 company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. On average, analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be issued 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 0.14%. Quanta Services’s dividend 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.