Stifel Financial Corp Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Stifel Financial Corp cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,594 shares of the construction company’s stock after selling 604 shares during the period. Stifel Financial Corp owned approximately 0.24% of Quanta Services worth $107,223,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Electron Capital Partners LLC grew its holdings 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 purchasing an additional 2,092,519 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after buying an additional 369,581 shares in the last quarter. Alkeon Capital Management LLC increased its holdings in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 17.8% during 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 buying an additional 186,306 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after acquiring an additional 161,574 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PWR shares. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research started coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

PWR opened at $334.97 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $318.96 and its 200-day simple moving average is $284.83. The company has a market capitalization of $49.44 billion, a price-to-earnings ratio of 61.80 and a beta of 1.03. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19.

Quanta Services (NYSE:PWR) last posted 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 company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 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.