Aware Super Pty Ltd as trustee of Aware Super bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,031 shares of the construction company's stock, valued at approximately $8,859,000.
A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in Quanta Services in the 4th quarter valued at about $544,937,000. Raymond James Financial Inc. bought a new stake in shares of Quanta Services in the fourth quarter valued at approximately $203,068,000. Proficio Capital Partners LLC purchased a new position in Quanta Services in the 4th quarter valued at approximately $53,949,000. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Quanta Services in the 4th quarter worth about $46,364,000. 90.49% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PWR has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Truist Financial cut their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 price target for the company. JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $319.25.
Read Our Latest Analysis on Quanta Services
Quanta Services Stock Down 0.7 %
Quanta Services stock traded down $1.98 during trading hours on Friday, hitting $267.47. 971,294 shares of the stock traded hands, compared to its average volume of 1,665,740. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a market cap of $39.64 billion, a PE ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04. The firm's 50-day moving average price is $263.56 and its two-hundred day moving average price is $301.58. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.
Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services's dividend payout ratio is currently 6.63%.
About Quanta Services
(
Free Report)
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.
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