6,701 Shares in Quanta Services, Inc. $PWR Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,701 shares of the construction company’s stock, valued at approximately $4,306,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. State Street Corp increased its holdings in shares of Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after purchasing an additional 296,893 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Quanta Services by 5.4% in the first quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after purchasing an additional 175,184 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Quanta Services by 7.1% during the first quarter. Royal Bank of Canada now owns 1,264,827 shares of the construction company’s stock valued at $694,415,000 after purchasing an additional 83,363 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Quanta Services by 18.3% during the first quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock valued at $551,170,000 after purchasing an additional 155,529 shares in the last quarter. Finally, Amundi boosted its position in shares of Quanta Services by 10.3% during the first quarter. Amundi now owns 580,718 shares of the construction company’s stock valued at $318,826,000 after buying an additional 54,237 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $760.00 price objective on shares of Quanta Services in a report on Monday. Guggenheim raised Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 target price for the company in a research report on Friday, July 31st. Morgan Stanley cut shares of Quanta Services to an “underweight” rating in a research note on Monday, August 3rd. Oppenheimer dropped their price target on shares of Quanta Services from $835.00 to $800.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Piper Sandler reduced their price target on shares of Quanta Services from $731.00 to $714.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Twenty-three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.81.

Quanta Services Price Performance

NYSE PWR opened at $656.13 on Wednesday. The business’s fifty day moving average price is $633.15 and its 200-day moving average price is $625.14. The stock has a market capitalization of $98.87 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 1.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. Quanta Services, Inc. has a 1-year low of $408.36 and a 1-year high of $788.75.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The firm had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the business posted $3.33 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities analysts predict that Quanta Services, Inc. will post 16.25 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is currently 3.99%.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.