T. Rowe Price Investment Management Inc. Acquires 3,720 Shares of Quanta Services, Inc. (NYSE:PWR)

T. Rowe Price Investment Management Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821,110 shares of the construction company's stock after acquiring an additional 3,720 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.56% of Quanta Services worth $259,512,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Capital World Investors raised its stake in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. Geode Capital Management LLC boosted its stake in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after acquiring an additional 99,416 shares in the last quarter. Invesco Ltd. grew its holdings in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter worth $544,937,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 5.0 %

PWR opened at $274.93 on Thursday. The stock has a market capitalization of $40.76 billion, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The business's 50-day simple moving average is $261.88 and its 200-day simple moving average is $300.80.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWR. Truist Financial dropped their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating on the stock. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus cut their price objective on Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $319.25.

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.

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