Tower Wealth Partners Inc. Buys 62 Shares of Quanta Services, Inc. (NYSE:PWR)

Tower Wealth Partners Inc. lifted its position in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,040 shares of the construction company’s stock after acquiring an additional 62 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Quanta Services were worth $270,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Private Ocean LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its position in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Quanta Services during the fourth quarter worth $34,000. Valley National Advisers Inc. purchased a new position in Quanta Services in the fourth quarter worth $41,000. Finally, Vestor Capital LLC bought a new position in Quanta Services in the 4th quarter valued at $42,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR opened at $247.78 on Wednesday. The stock’s 50-day simple moving average is $268.75 and its two-hundred day simple moving average is $241.45. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The firm has a market capitalization of $36.27 billion, a P/E ratio of 48.02 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.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio is presently 6.98%.

Analyst Ratings Changes

PWR has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 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. DA Davidson boosted their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Argus lifted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.85.

Quanta Services Company 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.