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Castleark Management LLC Has $835,000 Holdings in Quanta Services, Inc. (NYSE:PWR)

Quanta Services logo with Construction background

Castleark Management LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,800 shares of the construction company's stock after selling 2,000 shares during the period. Castleark Management LLC's holdings in Quanta Services were worth $835,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Electron Capital Partners LLC grew its position in shares of 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 valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. American Century Companies Inc. raised its stake in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after buying an additional 369,581 shares during the period. Alkeon Capital Management LLC lifted its position in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after buying an additional 250,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock valued at $53,455,000 after acquiring an additional 161,574 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock traded down $2.50 during trading hours on Friday, reaching $332.47. 1,081,076 shares of the stock were exchanged, compared to its average volume of 829,965. The stock has a 50 day moving average of $319.67 and a two-hundred day moving average of $285.37. The company has a market cap of $49.08 billion, a P/E ratio of 61.34 and a beta of 1.03. 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, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19.

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

Quanta Services Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Daiwa Capital Markets began coverage on shares of Quanta Services in a report on Friday. They issued an "outperform" rating and a $355.00 price objective on the stock. Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Stifel Nicolaus increased their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $316.81.

View Our Latest Analysis on Quanta Services

Quanta Services Company Profile

(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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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