M Holdings Securities Inc. bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,538 shares of the construction company’s stock, valued at approximately $957,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after buying an additional 4,087 shares during the last quarter. State Street Corp boosted its position in Quanta Services by 4.7% during the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock valued at $4,739,164,000 after buying an additional 296,893 shares during the period. WINTON GROUP Ltd bought a new stake in Quanta Services in the 2nd quarter worth $1,066,000. Envestnet Asset Management Inc. grew its holdings in Quanta Services by 11.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 225,059 shares of the construction company’s stock worth $162,051,000 after acquiring an additional 23,850 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Quanta Services by 287.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 4,149 shares of the construction company’s stock worth $2,665,000 after acquiring an additional 3,079 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.
Quanta Services Stock Performance
NYSE:PWR opened at $592.15 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $628.61 and its 200 day simple moving average is $626.99. The stock has a market cap of $89.22 billion, a P/E ratio of 53.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29. Quanta Services, Inc. has a twelve month low of $408.36 and a twelve month high of $788.75.
Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.02 by $1.04. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The business had revenue of $12.01 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the business earned $3.33 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts predict that Quanta Services, Inc. will post 16.61 EPS for the current year.
Quanta Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s dividend payout ratio is presently 3.99%.
Analyst Ratings Changes
PWR has been the subject of several recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of Quanta Services in a research note on Monday, August 17th. Morgan Stanley lowered shares of Quanta Services to an “underweight” rating in a report on Monday, August 3rd. TD Cowen raised their target price on Quanta Services from $785.00 to $830.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Truist Financial boosted their price target on Quanta Services from $945.00 to $960.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Finally, Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $763.31.
Read Our Latest Analysis on Quanta Services
Quanta Services Profile
Quanta Services, Inc provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure.
The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.
Founded in 1997, Quanta serves customers primarily in North America, with operations also extending to Australia and other international markets.
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