AMF Tjanstepension AB Invests $8.31 Million in Quanta Services, Inc. (NYSE:PWR)

AMF Tjanstepension AB bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,704 shares of the construction company’s stock, valued at approximately $8,310,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Wedmont Private Capital raised its position in Quanta Services by 1.0% during the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after buying an additional 47 shares during the period. Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. Checchi Capital Advisers LLC raised its position in Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after buying an additional 60 shares during the period. Tower Wealth Partners Inc. raised its position in Quanta Services by 6.3% during the first quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock valued at $270,000 after buying an additional 62 shares during the period. Finally, SVB Wealth LLC grew its stake in Quanta Services by 4.6% in the first quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock valued at $375,000 after purchasing an additional 63 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PWR. B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup boosted their target price on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Argus boosted their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research note on Monday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

Quanta Services Price Performance

PWR traded up $0.47 during trading on Wednesday, hitting $248.50. 1,349,451 shares of the stock traded hands, compared to its average volume of 966,410. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 48.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.32. The business has a 50 day moving average price of $263.35 and a 200 day moving average price of $249.84.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

About Quanta Services

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.