Quanta Services, Inc. (NYSE:PWR) Stake Lifted by KBC Group NV

KBC Group NV grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 13.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,094 shares of the construction company’s stock after purchasing an additional 1,547 shares during the quarter. KBC Group NV’s holdings in Quanta Services were worth $3,904,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Capital World Investors boosted its stake in Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares during the period. Electron Capital Partners LLC boosted its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares in the last quarter. Swedbank AB increased its position in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Quanta Services by 3.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 517,038 shares of the construction company’s stock valued at $155,196,000 after acquiring an additional 14,865 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 68.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PWR. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial increased their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Down 0.2 %

Shares of PWR opened at $323.33 on Monday. The business’s 50-day moving average price is $301.80 and its 200 day moving average price is $277.83. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $47.73 billion, a P/E ratio of 59.65 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is 6.64%.

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.