Sarasin & Partners LLP grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,318 shares of the construction company's stock after purchasing an additional 4,482 shares during the quarter. Sarasin & Partners LLP's holdings in Quanta Services were worth $6,738,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the third quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after purchasing an additional 45 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the 3rd quarter worth about $41,000. Finally, Eastern Bank acquired a new stake in shares of Quanta Services in the third quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Price Performance
Shares of NYSE PWR traded up $0.91 during mid-day trading on Monday, reaching $337.10. The company had a trading volume of 1,358,031 shares, compared to its average volume of 847,447. The company has a 50-day moving average price of $329.50 and a two-hundred day moving average price of $297.36. The stock has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. 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, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.
Quanta Services Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid 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 yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's payout ratio is 7.38%.
Wall Street Analysts Forecast Growth
PWR has been the subject of several analyst reports. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research report on Thursday. Robert W. Baird increased their price target on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating on the stock. Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Finally, TD Cowen upped their price target 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 analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $324.19.
Check Out Our Latest Stock Analysis on PWR
About Quanta Services
(
Free Report)
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.
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