Franklin Resources Inc. Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Franklin Resources Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 929,413 shares of the construction company's stock after selling 58,077 shares during the period. Franklin Resources Inc. owned approximately 0.63% of Quanta Services worth $289,029,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after acquiring an additional 46,357 shares during the period. Electron Capital Partners LLC boosted its position in shares of Quanta Services by 395.1% during the 2nd 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. Massachusetts Financial Services Co. MA increased its stake in 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 valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 0.4 %

Shares of NYSE PWR traded up $1.50 during trading on Friday, reaching $337.60. The company had a trading volume of 1,121,605 shares, compared to its average volume of 864,533. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market cap of $49.83 billion, a P/E ratio of 62.29 and a beta of 1.03. The company's fifty day moving average price is $322.72 and its 200-day moving average price is $287.22.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. Northland Securities reissued an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target on the stock. Daiwa America upgraded shares of Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. Finally, Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average target price of $321.69.

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.