QRG Capital Management Inc. Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

QRG Capital Management Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,512 shares of the construction company’s stock after purchasing an additional 1,636 shares during the period. QRG Capital Management Inc.’s holdings in Quanta Services were worth $3,730,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC increased its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. Swedbank AB acquired a new position in shares of Quanta Services during the 1st quarter worth about $227,218,000. Capital World Investors increased its holdings in shares of Quanta Services by 10.7% in 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 acquiring an additional 643,011 shares during the last quarter. American Century Companies Inc. lifted its stake in Quanta Services by 1,445.3% during the second 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, Massachusetts Financial Services Co. MA lifted its position in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 1.2 %

Shares of PWR stock opened at $310.82 on Thursday. Quanta Services, Inc. has a twelve month low of $163.93 and a twelve month high of $317.91. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01. The firm has a 50-day moving average price of $292.81 and a 200 day moving average price of $274.22. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.64%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup upped their price objective 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. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

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.