10,972 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,972 shares of the construction company's stock, valued at approximately $3,271,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Quanta Services by 4.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 59,723 shares of the construction company's stock worth $17,801,000 after purchasing an additional 2,415 shares during the period. Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after purchasing an additional 33 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of Quanta Services by 2.7% in the third quarter. IHT Wealth Management LLC now owns 1,816 shares of the construction company's stock valued at $541,000 after purchasing an additional 47 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in Quanta Services by 328.7% during the third quarter. Integrated Wealth Concepts LLC now owns 21,644 shares of the construction company's stock worth $6,453,000 after buying an additional 16,595 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PWR shares. UBS Group lifted their price target 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. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective on the stock. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $314.27.

Quanta Services Stock Down 0.5 %

NYSE:PWR traded down $1.65 on Friday, hitting $333.32. 328,375 shares of the company's stock traded hands, compared to its average volume of 891,504. The firm has a 50-day moving average price of $318.96 and a 200-day moving average price of $284.83. 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 cap of $49.20 billion, a PE ratio of 61.80 and a beta of 1.03. 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 results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

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.