Quanta Services, Inc. (NYSE:PWR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 581.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,014 shares of the construction company’s stock after acquiring an additional 99,840 shares during the quarter. Wellington Management Group LLP owned 0.08% of Quanta Services worth $25,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Artisan Partners Limited Partnership raised its position 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 valued at $526,261,000 after purchasing an additional 1,935,786 shares in the last quarter. Norges Bank purchased a new position in Quanta Services in the fourth quarter worth approximately $335,777,000. Public Employees Retirement Association of Colorado grew its holdings in Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after acquiring an additional 1,052,496 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and issued a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. DA Davidson raised their target price on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Robert W. Baird upped their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Evercore ISI upped their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $268.85.

Insider Activity

In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.1 %

NYSE PWR opened at $274.23 on Tuesday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The firm has a market cap of $40.14 billion, a PE ratio of 53.15 and a beta of 1.05. The firm’s fifty day moving average is $267.26 and its two-hundred day moving average is $239.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36.

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

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s payout ratio is currently 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.