Axa S.A. Has $21.18 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Axa S.A. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,358 shares of the construction company’s stock after acquiring an additional 4,659 shares during the period. Axa S.A. owned 0.06% of Quanta Services worth $21,180,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PWR. Public Employees Retirement Association of Colorado grew its stake in shares of Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares in the last quarter. Swedbank AB acquired a new stake in Quanta Services in the first quarter valued at approximately $227,218,000. Capital World Investors grew its position in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Quanta Services by 393.9% during the 4th quarter. Sei Investments Co. now owns 324,223 shares of the construction company’s stock valued at $69,966,000 after purchasing an additional 258,580 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.6 %

Shares of PWR stock opened at $296.28 on Friday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $306.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a fifty day moving average price of $265.42 and a 200 day moving average price of $262.95. The stock has a market cap of $43.37 billion, a P/E ratio of 57.42 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. Analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.98%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial reissued a “buy” rating and set a $319.00 target price (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. Northland Securities upped their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. TD Cowen lifted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Citigroup upped their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $286.69.

Insider Activity at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.