Legal & General Group Plc Has $242.86 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Legal & General Group Plc reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 25.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 768,430 shares of the construction company's stock after selling 258,629 shares during the period. Legal & General Group Plc owned approximately 0.52% of Quanta Services worth $242,862,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. Geode Capital Management LLC raised its stake in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. lifted its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares in the last quarter. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter worth about $544,937,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock worth $323,797,000 after buying an additional 45,486 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

PWR traded up $3.83 on Monday, reaching $273.40. The company had a trading volume of 306,534 shares, compared to its average volume of 1,684,377. The company's fifty day moving average is $267.21 and its 200 day moving average is $302.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $40.52 billion, a P/E ratio of 45.34, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services's payout ratio is presently 6.63%.

Analyst Ratings Changes

Several equities research analysts have commented on PWR shares. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. Piper Sandler assumed coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target on the stock. Finally, Truist Financial decreased their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $319.25.

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.