88,700 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 88,700 shares of the construction company’s stock, valued at approximately $28,034,000. KLP Kapitalforvaltning AS owned about 0.06% of Quanta Services as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PWR. Swedbank AB raised its stake in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Empowered Funds LLC raised its position in shares of Quanta Services by 7.4% in the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after buying an additional 185 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Quanta Services during the third quarter valued at approximately $900,000. Avior Wealth Management LLC boosted its position in Quanta Services by 3.5% during the third quarter. Avior Wealth Management LLC now owns 1,224 shares of the construction company’s stock worth $365,000 after acquiring an additional 41 shares during the last quarter. Finally, Commerce Bank grew its stake in Quanta Services by 4.2% in the 3rd quarter. Commerce Bank now owns 5,447 shares of the construction company’s stock worth $1,624,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $268.43 on Friday. The business’s 50-day simple moving average is $289.30 and its 200 day simple moving average is $304.27. The company has a market cap of $39.78 billion, a P/E ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is presently 6.63%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Company 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.