KBC Group NV raised its position in Quanta Services, Inc. (NYSE:PWR) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,614 shares of the construction company’s stock after purchasing an additional 3,448 shares during the quarter. KBC Group NV’s holdings in Quanta Services were worth $5,685,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Quanta Services by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,024,099 shares of the construction company’s stock worth $289,809,000 after acquiring an additional 17,173 shares in the last quarter. Lyrical Asset Management LP increased its holdings in Quanta Services by 0.4% during the 4th quarter. Lyrical Asset Management LP now owns 3,370,169 shares of the construction company’s stock valued at $242,720,000 after purchasing an additional 11,973 shares in the last quarter. Rothschild & Co. Asset Management US Inc. boosted its position in shares of Quanta Services by 26.7% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 1,527,142 shares of the construction company’s stock worth $109,984,000 after purchasing an additional 321,398 shares during the last quarter. Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $104,795,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Quanta Services by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 980,327 shares of the construction company’s stock worth $70,604,000 after acquiring an additional 14,648 shares during the period. Institutional investors own 86.51% of the company’s stock.
Several research analysts have commented on the stock. Credit Suisse Group boosted their price objective on shares of Quanta Services from $89.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. Citigroup upped their price target on shares of Quanta Services from $75.00 to $89.00 in a report on Tuesday, January 19th. Finally, KeyCorp upped their price target on shares of Quanta Services from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.55.
Shares of Quanta Services stock opened at $97.18 on Tuesday. Quanta Services, Inc. has a 12-month low of $28.70 and a 12-month high of $98.95. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 35.86 and a beta of 1.24. The company has a current ratio of 1.69, a quick ratio of 1.67 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $91.48 and its 200-day moving average price is $77.21.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 25th. The construction company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.23. Quanta Services had a net margin of 3.45% and a return on equity of 11.61%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Quanta Services’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services, Inc. will post 3.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Tuesday, April 6th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, April 5th. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Quanta Services’s payout ratio is presently 7.87%.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services worldwide. The Electric Power Infrastructure Solutions segment engages in the design, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; energized installation, maintenance, and upgrade of electric power infrastructure; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.
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