Westwood Holdings Group Inc. Takes $3.55 Million Position in Quanta Services, Inc. (NYSE:PWR)

Westwood Holdings Group Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,671 shares of the construction company’s stock, valued at approximately $3,552,000.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its stake in Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares during the period. Capital International Sarl purchased a new position in Quanta Services during the first quarter worth about $286,000. Toronto Dominion Bank boosted its stake in Quanta Services by 31.8% during the first quarter. Toronto Dominion Bank now owns 89,871 shares of the construction company’s stock worth $23,348,000 after buying an additional 21,671 shares during the period. Pinnbrook Capital Management LP purchased a new position in Quanta Services during the first quarter worth about $2,349,000. Finally, EntryPoint Capital LLC purchased a new position in Quanta Services during the first quarter worth about $25,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 3.2 %

NYSE:PWR traded up $7.92 during mid-day trading on Friday, hitting $256.73. The stock had a trading volume of 642,343 shares, compared to its average volume of 1,023,924. The stock has a 50-day simple moving average of $266.89 and a two-hundred day simple moving average of $246.82. The company has a market capitalization of $37.58 billion, a PE ratio of 49.75 and a beta of 1.03. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. 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 (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $5.03 billion for 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, equities research analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s payout ratio is currently 6.98%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PWR shares. DA Davidson increased 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. Argus raised their price objective 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. Evercore ISI raised their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Truist Financial reissued a “buy” rating and issued a $305.00 price objective (up previously 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 given a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.75.

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.