Alkeon Capital Management LLC Has $193.80 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Alkeon Capital Management LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 62.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 650,000 shares of the construction company's stock after buying an additional 250,000 shares during the quarter. Alkeon Capital Management LLC owned 0.44% of Quanta Services worth $193,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC increased 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 acquiring an additional 2,092,519 shares in the last quarter. American Century Companies Inc. increased its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $313,968,000 after purchasing an additional 186,306 shares during the period. National Bank of Canada FI lifted its holdings in shares of Quanta Services by 297.3% in the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock valued at $53,455,000 after purchasing an additional 161,574 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Quanta Services by 4,701.7% during the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock worth $39,018,000 after buying an additional 150,361 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Quanta Services stock traded up $0.58 during mid-day trading on Friday, hitting $344.52. 370,777 shares of the company's stock traded hands, compared to its average volume of 893,141. Quanta Services, Inc. has a fifty-two week low of $186.18 and a fifty-two week high of $350.19. The stock has a market cap of $50.86 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. The firm has a 50 day simple moving average of $314.64 and a two-hundred day simple moving average of $282.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a "neutral" rating and a $297.00 target price on the stock. Robert W. Baird lifted their price objective 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. Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $314.27.

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.