Pinebridge Investments L.P. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,851 shares of the construction company’s stock after acquiring an additional 11,123 shares during the period. Pinebridge Investments L.P.’s holdings in Quanta Services were worth $23,832,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Blueshift Asset Management LLC purchased a new position in shares of Quanta Services in the third quarter valued at approximately $1,145,000. Creative Planning lifted its stake in Quanta Services by 35.1% in the third quarter. Creative Planning now owns 12,102 shares of the construction company’s stock worth $1,377,000 after acquiring an additional 3,143 shares during the last quarter. Millennium Management LLC lifted its stake in Quanta Services by 176.5% in the third quarter. Millennium Management LLC now owns 289,342 shares of the construction company’s stock worth $32,933,000 after acquiring an additional 184,705 shares during the last quarter. Strs Ohio lifted its stake in Quanta Services by 16.2% in the fourth quarter. Strs Ohio now owns 20,574 shares of the construction company’s stock worth $2,359,000 after acquiring an additional 2,865 shares during the last quarter. Finally, Man Group plc lifted its position in shares of Quanta Services by 339.2% during the 3rd quarter. Man Group plc now owns 212,296 shares of the construction company’s stock worth $24,163,000 after buying an additional 163,960 shares during the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.
Several brokerages have recently weighed in on PWR. StockNews.com began coverage on shares of Quanta Services in a research report on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler boosted their price objective on shares of Quanta Services from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. UBS Group downgraded shares of Quanta Services from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $140.00 to $145.00 in a research report on Wednesday, April 20th. KeyCorp boosted their price objective on shares of Quanta Services from $129.00 to $156.00 in a research report on Thursday, April 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Quanta Services from $127.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, April 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $136.55.
PWR traded down $0.39 during trading on Thursday, hitting $108.37. The stock had a trading volume of 34,947 shares, compared to its average volume of 1,438,720. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.51. The firm has a market capitalization of $15.46 billion, a P/E ratio of 32.96 and a beta of 1.19. The company’s 50-day moving average price is $125.33 and its 200 day moving average price is $115.70. Quanta Services, Inc. has a twelve month low of $84.40 and a twelve month high of $140.04.
Quanta Services (NYSE:PWR – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. Quanta Services’s revenue was up 46.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 5.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, April 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. Quanta Services’s dividend payout ratio (DPR) is presently 8.48%.
About Quanta Services (Get Rating)
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
- Get a free copy of the StockNews.com research report on Quanta Services (PWR)
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