2,058 Quanta Services, Inc. $PWR Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,059 shares of the construction company’s stock after selling 2,058 shares during the quarter. Russell Investments Group Ltd.’s holdings in Quanta Services were worth $81,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in Quanta Services by 5.8% in the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock worth $40,701,000 after buying an additional 4,087 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Quanta Services by 3.6% during the 3rd quarter. Fifth Third Bancorp now owns 37,351 shares of the construction company’s stock valued at $23,998,000 after buying an additional 1,282 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Quanta Services during the 2nd quarter valued at $1,066,000. State Street Corp grew its holdings in shares of Quanta Services by 4.7% during 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 acquiring an additional 296,893 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Quanta Services by 11.9% in the second quarter. Envestnet Asset Management Inc. now owns 225,059 shares of the construction company’s stock worth $162,051,000 after acquiring an additional 23,850 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.8%

Shares of NYSE:PWR traded down $4.68 on Friday, reaching $601.48. The company had a trading volume of 740,843 shares, compared to its average volume of 1,758,007. The stock has a market capitalization of $90.63 billion, a P/E ratio of 54.48, a P/E/G ratio of 1.55 and a beta of 1.29. The stock has a 50-day moving average price of $627.61 and a 200 day moving average price of $629.55. Quanta Services, Inc. has a twelve month low of $408.36 and a twelve month high of $788.75. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued 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 3.99%.

Analyst Ratings Changes

Several brokerages recently issued reports on PWR. KeyCorp upgraded Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective for the company in a report on Friday, August 7th. Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Truist Financial upped their target price on Quanta Services from $945.00 to $960.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Raymond James Financial set a $830.00 price target on shares of Quanta Services in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $763.31.

Quanta Services Company 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.