5,818 Quanta Services, Inc. $PWR Shares Purchased by Northeast Investment Management

Northeast Investment Management grew its position in Quanta Services, Inc. (NYSE:PWR) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,251 shares of the construction company’s stock after purchasing an additional 5,818 shares during the period. Northeast Investment Management’s holdings in Quanta Services were worth $26,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position in Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock valued at $4,739,164,000 after buying an additional 296,893 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Quanta Services by 3,657.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 221,485 shares of the construction company’s stock valued at $121,600,000 after acquiring an additional 215,591 shares in the last quarter. Corient Private Wealth LP lifted its stake in Quanta Services by 731.3% in the 2nd quarter. Corient Private Wealth LP now owns 210,091 shares of the construction company’s stock valued at $151,273,000 after acquiring an additional 184,819 shares in the last quarter. Bank of America Corp DE boosted its position in Quanta Services by 5.4% during the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after acquiring an additional 175,184 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Quanta Services by 18.3% during the 1st quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock worth $551,170,000 after acquiring an additional 155,529 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $580.59 on Thursday. The stock has a 50 day moving average price of $632.70 and a 200 day moving average price of $625.80. Quanta Services, Inc. has a 52 week low of $408.36 and a 52 week high of $788.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.16. The stock has a market capitalization of $87.48 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 1.68 and a beta of 1.29.

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

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating on shares of Quanta Services in a report on Monday, August 17th. Mizuho set a $684.00 target price on shares of Quanta Services in a report on Wednesday, October 7th. Benchmark cut shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. Robert W. Baird set a $728.00 target price on shares of Quanta Services in a research report on Friday, July 31st. Finally, Argus set a $800.00 price target on shares of Quanta Services in a research note on Wednesday, August 5th. Twenty-three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $763.81.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.