295,490 Quanta Services, Inc. $PWR Shares Acquired by Aberdeen Group plc

Aberdeen Group plc increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 179.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 460,076 shares of the construction company’s stock after purchasing an additional 295,490 shares during the quarter. Aberdeen Group plc’s holdings in Quanta Services were worth $295,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Financial Management LLC boosted its position in shares of Quanta Services by 70.4% during the 2nd quarter. Cornerstone Financial Management LLC now owns 46 shares of the construction company’s stock worth $33,000 after acquiring an additional 19 shares in the last quarter. Boreal Capital Management LLC bought a new stake in Quanta Services during the first quarter worth $27,000. JNBA Financial Advisors lifted its stake in Quanta Services by 1,733.3% during the second quarter. JNBA Financial Advisors now owns 55 shares of the construction company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Joseph Group Capital Management boosted its holdings in shares of Quanta Services by 39.1% in the 3rd quarter. Joseph Group Capital Management now owns 64 shares of the construction company’s stock valued at $41,000 after purchasing an additional 18 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC bought a new position in shares of Quanta Services in the 3rd quarter valued at $46,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR opened at $601.48 on Friday. Quanta Services, Inc. has a one year low of $408.36 and a one year high of $788.75. The company has a market cap of $90.63 billion, a PE ratio of 54.48, a P/E/G ratio of 1.55 and a beta of 1.29. The stock has a 50-day moving average of $627.61 and a 200-day moving average of $629.55. 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 (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the firm posted $3.33 earnings per share. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities research analysts predict that Quanta Services, Inc. will post 16.61 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Thursday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 3.99%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PWR. Zacks Research upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. UBS Group reiterated a “buy” rating on shares of Quanta Services in a research report on Monday, August 17th. Deutsche Bank downgraded Quanta Services to a “sell” rating in a research note on Friday, July 31st. Truist Financial increased their target price on shares of Quanta Services from $945.00 to $960.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Finally, Benchmark lowered shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $763.31.

About Quanta Services

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.