Hennion & Walsh Asset Management Inc. Acquires 3,334 Shares of Quanta Services, Inc. (NYSE:PWR)

Hennion & Walsh Asset Management Inc. grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,848 shares of the construction company's stock after purchasing an additional 3,334 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Quanta Services were worth $2,818,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Garrison Bradford & Associates Inc. grew its position in shares of Quanta Services by 6.5% during the 1st 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 in the last quarter. Reliant Investment Management LLC grew its position in Quanta Services by 0.4% in the first quarter. Reliant Investment Management LLC now owns 28,404 shares of the construction company's stock worth $7,379,000 after acquiring an additional 108 shares in the last quarter. New England Research & Management Inc. grew its position in Quanta Services by 19.1% in the first quarter. New England Research & Management Inc. now owns 14,631 shares of the construction company's stock worth $3,801,000 after acquiring an additional 2,350 shares in the last quarter. Transform Wealth LLC grew its position in Quanta Services by 13.0% in the first quarter. Transform Wealth LLC now owns 26,123 shares of the construction company's stock worth $6,787,000 after acquiring an additional 3,011 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Quanta Services by 15.6% during the first quarter. 180 Wealth Advisors LLC now owns 3,089 shares of the construction company's stock valued at $803,000 after buying an additional 416 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 4.9 %

PWR stock traded down $12.97 during trading on Friday, reaching $254.09. The company had a trading volume of 2,163,579 shares, compared to its average volume of 814,764. The company has a market cap of $37.20 billion, a P/E ratio of 49.24 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The business has a 50 day moving average of $268.79 and a 200 day moving average of $240.78.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.14. The business 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%. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.98%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. B. Riley upped their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a research report on Friday, May 3rd. Argus upped their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, May 30th. Evercore ISI upped their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an "outperform" rating in a research report on Tuesday, May 7th. Truist Financial reaffirmed a "buy" rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Finally, The Goldman Sachs Group upped 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.