Royal London Asset Management Ltd. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Royal London Asset Management Ltd. grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,723 shares of the construction company's stock after purchasing an additional 2,415 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Quanta Services were worth $17,801,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the second quarter worth $33,000. Quest Partners LLC bought a new stake in Quanta Services during the second quarter valued at about $35,000. MidAtlantic Capital Management Inc. purchased a new position in Quanta Services in the third quarter valued at about $41,000. Eastern Bank bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $44,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services during the second quarter worth $38,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

NYSE:PWR traded down $2.50 during trading hours on Friday, reaching $332.47. 1,081,076 shares of the company were exchanged, compared to its average volume of 829,965. The stock's 50-day moving average is $319.67 and its 200-day moving average is $285.28. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The firm has a market cap of $49.08 billion, a PE ratio of 61.32 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results 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 return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PWR shares. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Northland Securities reissued an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $316.81.

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.