1,136 Quanta Services, Inc. $PWR Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Quanta Services, Inc. (NYSE:PWR) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,154 shares of the construction company’s stock after acquiring an additional 1,136 shares during the period. Maryland State Retirement & Pension System’s holdings in Quanta Services were worth $5,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Quanta Services Trading Down 0.2%

Quanta Services stock opened at $606.61 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60. Quanta Services, Inc. has a 12 month low of $408.36 and a 12 month high of $788.75. The stock’s 50 day simple moving average is $628.00 and its two-hundred day simple moving average is $628.94. The firm has a market cap of $91.40 billion, a PE ratio of 54.95, a P/E/G ratio of 1.55 and a beta of 1.29.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04. The business had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the company earned $3.33 EPS. Analysts anticipate that Quanta Services, Inc. will post 16.61 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. Raymond James Financial set a $830.00 target price on Quanta Services in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Morgan Stanley lowered shares of Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. Mizuho set a $684.00 price objective on shares of Quanta Services in a research note on Wednesday, October 7th. Finally, Benchmark downgraded shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $763.31.

Quanta Services Profile

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.