Park Place Capital Corp Acquires 825 Shares of Quanta Services, Inc. (NYSE:PWR)

Park Place Capital Corp boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 927.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 914 shares of the construction company’s stock after buying an additional 825 shares during the period. Park Place Capital Corp’s holdings in Quanta Services were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its stake in Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after acquiring an additional 47 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after acquiring an additional 60 shares during the last quarter. Central Bank & Trust Co. lifted its stake in Quanta Services by 2.1% in the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares during the last quarter. Finally, Czech National Bank increased its stake in Quanta Services by 0.3% in the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after purchasing an additional 67 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $6.39 during trading hours on Monday, hitting $247.61. The stock had a trading volume of 1,347,865 shares, compared to its average volume of 941,859. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 48.03 and a beta of 1.03. The stock’s fifty day simple moving average is $268.79 and its 200 day simple moving average is $241.00.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a dividend of $0.09 per share. 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 payout ratio is 6.98%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird increased their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Finally, DA Davidson increased their price objective on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.