Quanta Services, Inc. (NYSE:PWR) Shares Acquired by ING Groep NV

ING Groep NV increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 31.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,354 shares of the construction company's stock after buying an additional 17,656 shares during the period. ING Groep NV's holdings in Quanta Services were worth $21,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. increased its position in shares of Quanta Services by 20.0% during the 3rd quarter. Nicola Wealth Management LTD. now owns 9,000 shares of the construction company's stock valued at $2,683,000 after purchasing an additional 1,500 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Quanta Services by 3.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,693 shares of the construction company's stock worth $1,399,000 after buying an additional 152 shares during the period. Metis Global Partners LLC increased its position in Quanta Services by 3.0% during the third quarter. Metis Global Partners LLC now owns 5,871 shares of the construction company's stock valued at $1,750,000 after acquiring an additional 173 shares during the last quarter. KBC Group NV raised its stake in shares of Quanta Services by 13.4% in the third quarter. KBC Group NV now owns 13,094 shares of the construction company's stock valued at $3,904,000 after acquiring an additional 1,547 shares during the period. Finally, Huntington National Bank grew its holdings in Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock valued at $370,000 after purchasing an additional 35 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PWR shares. UBS Group upped their target price on Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Truist Financial lifted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective for the company. Finally, TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $314.27.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Quanta Services Stock Down 0.2 %

Shares of Quanta Services stock traded down $0.54 during trading on Friday, reaching $323.33. The company's stock had a trading volume of 900,887 shares, compared to its average volume of 896,390. The company has a 50-day simple moving average of $301.80 and a two-hundred day simple moving average of $277.54. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00. The company has a market cap of $47.73 billion, a price-to-earnings ratio of 59.65 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.64%.

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.