Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 591.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,252 shares of the construction company's stock after acquiring an additional 14,757 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Quanta Services were worth $5,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Electron Capital Partners LLC increased its holdings in 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 purchasing an additional 2,092,519 shares during the period. American Century Companies Inc. grew its stake 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 buying an additional 369,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Quanta Services by 17.8% during 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 during the period. National Bank of Canada FI lifted its stake in 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 buying an additional 161,574 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock valued at $39,018,000 after acquiring an additional 150,361 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

PWR traded up $0.58 during trading on Friday, reaching $344.52. 370,777 shares of the stock were exchanged, compared to its average volume of 893,141. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $186.18 and a 1 year high of $350.19. The business's 50 day moving average price is $315.72 and its two-hundred day moving average price is $282.83.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business 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 of this dividend is Thursday, January 2nd. Quanta Services's payout ratio is currently 7.38%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. 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 for the company. 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 research note on Friday, November 1st. Truist Financial lifted their price objective 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. Finally, UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.