KBC Group NV Has $3.90 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

KBC Group NV grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,094 shares of the construction company's stock after purchasing an additional 1,547 shares during the period. KBC Group NV's holdings in Quanta Services were worth $3,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in shares of Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock valued at $370,000 after buying an additional 35 shares in the last quarter. Plato Investment Management Ltd lifted its position in Quanta Services by 67,200.0% in the third quarter. Plato Investment Management Ltd now owns 3,365 shares of the construction company's stock valued at $1,002,000 after acquiring an additional 3,360 shares during the last quarter. Cable Hill Partners LLC purchased a new position in shares of Quanta Services during the third quarter worth about $227,000. Kovack Advisors Inc. increased its position in shares of Quanta Services by 20.2% during the third quarter. Kovack Advisors Inc. now owns 9,678 shares of the construction company's stock worth $2,886,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Quanta Services by 8.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company's stock valued at $406,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Northland Securities reaffirmed an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective on the stock. Citigroup lifted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $314.27.

Quanta Services Price Performance

Shares of PWR traded up $5.03 during mid-day trading on Monday, hitting $328.36. The company's stock had a trading volume of 473,598 shares, compared to its average volume of 894,494. The stock has a market capitalization of $48.47 billion, a price-to-earnings ratio of 60.60 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $335.00. The firm has a 50-day moving average price of $301.80 and a 200 day moving average price of $277.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The business's quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.