Banco Santander S.A. Sells 9,413 Shares of Quanta Services, Inc. (NYSE:PWR)

Banco Santander S.A. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,215 shares of the construction company’s stock after selling 9,413 shares during the period. Banco Santander S.A.’s holdings in Quanta Services were worth $10,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in shares of Quanta Services during the first quarter valued at about $25,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services during the second quarter worth about $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Quanta Services during the third quarter worth about $41,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $340.01 on Friday. The firm has a market cap of $50.19 billion, a PE ratio of 62.73 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $342.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business has a 50 day moving average price of $306.37 and a 200-day moving average price of $279.24.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $2.08 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 6.64%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PWR shares. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Company 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.