Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 46.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,808 shares of the construction company’s stock after acquiring an additional 573 shares during the period. Blue Trust Inc.’s holdings in Quanta Services were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PWR. Alkeon Capital Management LLC increased its holdings in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after buying an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after acquiring an additional 125,530 shares during the period. Meitav Investment House Ltd. purchased a new stake in shares of Quanta Services during the 3rd quarter worth about $27,430,000. Finally, State Street Corp increased its stake in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PWR. Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $330.06.

Quanta Services Stock Up 3.9 %

Shares of NYSE:PWR opened at $309.52 on Friday. Quanta Services, Inc. has a 52-week low of $193.52 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $329.27 and a two-hundred day moving average of $300.65. The stock has a market cap of $45.69 billion, a P/E ratio of 57.11 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.