BNP Paribas Financial Markets Buys 27,590 Shares of Quanta Services, Inc. (NYSE:PWR)

BNP Paribas Financial Markets boosted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 225,580 shares of the construction company's stock after buying an additional 27,590 shares during the period. BNP Paribas Financial Markets owned 0.15% of Quanta Services worth $67,257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PWR. Electron Capital Partners LLC lifted its stake in Quanta Services by 395.1% in 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $313,968,000 after buying an additional 186,306 shares in the last quarter. Swedbank AB grew its holdings in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after buying an additional 42,579 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock worth $253,063,000 after acquiring an additional 11,565 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Quanta Services by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 605,782 shares of the construction company's stock worth $180,614,000 after acquiring an additional 9,705 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PWR shares. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective on the stock. Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Northland Securities restated an "outperform" rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Truist Financial lifted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Trading Down 0.8 %

Shares of NYSE PWR traded down $2.66 during trading hours on Thursday, reaching $343.94. The stock had a trading volume of 534,544 shares, compared to its average volume of 895,411. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $350.19. The firm has a market cap of $50.77 billion, a price-to-earnings ratio of 63.46 and a beta of 1.01. The business's fifty day moving average price is $313.56 and its two-hundred day moving average price is $281.85. 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 - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share 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 analysts' expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. Analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is currently 6.64%.

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.