Quanta Services, Inc. (NYSE:PWR) Position Boosted by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,939 shares of the construction company’s stock after purchasing an additional 1,728 shares during the quarter. Vinva Investment Management Ltd’s holdings in Quanta Services were worth $2,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new position in Quanta Services during the 3rd quarter valued at $406,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after purchasing an additional 21,003 shares in the last quarter. Czech National Bank lifted its holdings in shares of Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after purchasing an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after purchasing an additional 910 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $343.94 on Friday. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $350.19. The business has a 50-day moving average of $313.56 and a two-hundred day moving average of $281.85. The stock has a market capitalization of $50.77 billion, a P/E ratio of 63.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced 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. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share. On average, equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PWR shares. Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Finally, TD Cowen increased their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.