Thrivent Financial for Lutherans cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 484,193 shares of the construction company's stock after selling 31,528 shares during the quarter. Thrivent Financial for Lutherans owned about 0.33% of Quanta Services worth $144,363,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock valued at $4,245,452,000 after purchasing an additional 105,355 shares during the period. Capital World Investors increased its stake in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after purchasing an additional 643,011 shares during the period. Electron Capital Partners LLC boosted its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Price Performance
PWR traded down $0.54 during midday trading on Friday, reaching $323.33. 901,991 shares of the company's stock were exchanged, compared to its average volume of 905,275. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01. The business's 50-day moving average price is $301.80 and its 200 day moving average price is $277.83. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00.
Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during 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%. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.
Quanta Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.64%.
Analyst Ratings Changes
PWR has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price on the stock. Northland Securities reaffirmed an "outperform" rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $314.27.
Check Out Our Latest Research Report on Quanta Services
Insider Activity
In other news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company's stock, valued at $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company's stock.
Quanta Services Profile
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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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