Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Quanta Services, Inc. (NYSE:PWR) by 12.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,145 shares of the construction company’s stock after purchasing an additional 24,919 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of Quanta Services worth $68,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Electron Capital Partners LLC increased its position in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Swedbank AB increased its holdings in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Quanta Services by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock worth $253,063,000 after acquiring an additional 11,565 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Quanta Services by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 605,782 shares of the construction company’s stock valued at $180,614,000 after purchasing an additional 9,705 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Finally, Truist Financial lifted their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Down 0.8 %

NYSE PWR opened at $343.83 on Thursday. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 63.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $350.19. The company’s 50 day moving average price is $312.12 and its 200 day moving average price is $281.41.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $2.08 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.64%.

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.