Allspring Global Investments Holdings LLC Has $65.53 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Allspring Global Investments Holdings LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 57.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 252,249 shares of the construction company’s stock after buying an additional 92,082 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Quanta Services were worth $65,534,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PWR. Private Ocean LLC acquired a new stake in Quanta Services during the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its holdings in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $34,000. Valley National Advisers Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $41,000. Finally, Vestor Capital LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.1 %

PWR opened at $247.78 on Wednesday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week 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 company has a market capitalization of $36.27 billion, a P/E ratio of 48.02 and a beta of 1.03. The stock has a fifty day moving average of $268.75 and a 200-day moving average of $241.45.

Quanta Services (NYSE:PWR) last posted its earnings results 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. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. On average, equities analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Robert W. Baird lifted 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. Evercore ISI lifted their price objective 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. B. Riley raised their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised their target price 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, Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.