Quanta Services, Inc. (NYSE:PWR) Shares Sold by UMB Bank n.a.

UMB Bank n.a. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 49,107 shares of the construction company’s stock after selling 1,045 shares during the quarter. UMB Bank n.a.’s holdings in Quanta Services were worth $15,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC lifted its holdings in shares of Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC lifted its holdings in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares during the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in shares of Quanta Services in the 3rd quarter valued at about $27,430,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. Citigroup boosted their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus upped their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Monday. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The firm has a market cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s 50-day simple moving average is $329.35 and its 200-day simple moving average is $296.78.

Quanta Services (NYSE:PWR) 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.