KLP Kapitalforvaltning AS Takes Position in Quanta Services, Inc. (NYSE:PWR)

KLP Kapitalforvaltning AS acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 88,700 shares of the construction company's stock, valued at approximately $28,034,000. KLP Kapitalforvaltning AS owned approximately 0.06% of Quanta Services as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PWR. Geneos Wealth Management Inc. grew its holdings in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC lifted its position in Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares during the last quarter. HB Wealth Management LLC grew its stake in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after buying an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after buying an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its holdings in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

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Quanta Services Stock Performance

Shares of PWR traded down $6.17 during trading hours on Thursday, hitting $254.47. The stock had a trading volume of 1,563,351 shares, compared to its average volume of 1,733,652. The stock has a fifty day moving average price of $284.73 and a 200 day moving average price of $304.34. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market capitalization of $37.71 billion, a PE ratio of 42.20, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services's payout ratio is 6.63%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 target price on the stock. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, B. Riley reiterated a "neutral" rating and issued a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $326.79.

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.