Banco Santander S.A. Has $10.50 Million Position in Quanta Services, Inc. (NYSE:PWR)

Banco Santander S.A. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,215 shares of the construction company’s stock after selling 9,413 shares during the period. Banco Santander S.A.’s holdings in Quanta Services were worth $10,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PWR. EntryPoint Capital LLC bought a new position in Quanta Services in the 1st quarter valued at approximately $25,000. Cambridge Trust Co. bought a new position in Quanta Services during the 1st quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services during the 2nd quarter worth approximately $33,000. Quest Partners LLC bought a new position in Quanta Services during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Quanta Services during the 2nd quarter worth approximately $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PWR. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $340.01 on Friday. The company’s 50-day moving average is $306.37 and its 200 day moving average is $279.24. 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 company has a market capitalization of $50.19 billion, a P/E ratio of 62.73 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $342.28.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

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.