Vise Technologies Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR – Free Report) during the third quarter, HoldingsChannel.com reports. The fund acquired 6,701 shares of the construction company’s stock, valued at approximately $4,306,000.
Several other large investors also recently added to or reduced their stakes in PWR. Blue Fin Capital Inc. bought a new stake in shares of Quanta Services during the 3rd quarter valued at $564,000. Avestar Capital LLC increased its stake in shares of Quanta Services by 7.5% in the 3rd quarter. Avestar Capital LLC now owns 3,650 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 256 shares in the last quarter. State of Wyoming raised its holdings in Quanta Services by 78.6% in the 3rd quarter. State of Wyoming now owns 184 shares of the construction company’s stock worth $118,000 after purchasing an additional 81 shares during the period. Petros Family Wealth LLC raised its holdings in Quanta Services by 12.8% in the 3rd quarter. Petros Family Wealth LLC now owns 662 shares of the construction company’s stock worth $425,000 after purchasing an additional 75 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Quanta Services by 358.1% during the third quarter. International Assets Investment Management LLC now owns 6,120 shares of the construction company’s stock valued at $3,932,000 after purchasing an additional 4,784 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have issued reports on PWR. Piper Sandler cut their price target on Quanta Services from $731.00 to $714.00 and set an “overweight” rating for the company in a report on Monday, September 28th. KeyCorp raised Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective on the stock in a research note on Friday, August 7th. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. TD Cowen boosted their price objective on Quanta Services from $785.00 to $830.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, Robert W. Baird set a $728.00 target price on shares of Quanta Services in a report on Friday, July 31st. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $763.81.
Quanta Services Stock Up 5.6%
Shares of PWR stock opened at $656.13 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. Quanta Services, Inc. has a one year low of $408.36 and a one year high of $788.75. The company’s fifty day moving average price is $633.15 and its 200-day moving average price is $625.14. The company has a market capitalization of $98.87 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 1.62 and a beta of 1.29.
Quanta Services (NYSE:PWR – Get Free Report) last issued its earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.02 by $1.04. The company had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. Quanta Services’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 16.25 EPS for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 3.99%.
Quanta Services Company Profile
Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.
Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.
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