Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 370.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,620 shares of the construction company's stock after buying an additional 6,000 shares during the period. Smith Group Asset Management LLC's holdings in Quanta Services were worth $2,408,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after purchasing an additional 43,715 shares during the last quarter. Swedbank AB raised its holdings in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after buying an additional 42,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Quanta Services by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock valued at $253,063,000 after buying an additional 11,565 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.4 %

Shares of PWR stock traded down $1.19 on Friday, reaching $308.10. 1,162,727 shares of the stock were exchanged, compared to its average volume of 1,353,427. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $45.48 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.49 and a beta of 1.06. The business's 50 day moving average price is $328.59 and its 200 day moving average price is $301.30.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services's dividend payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PWR shares. Truist Financial reduced their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on Quanta Services from $374.00 to $388.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $330.06.

Quanta Services 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.