10,721 Shares in Quanta Services, Inc. $PWR Purchased by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,721 shares of the construction company’s stock, valued at approximately $6,888,000.

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

Analysts Set New Price Targets

Several brokerages have weighed in on PWR. Truist Financial increased their price target on Quanta Services from $945.00 to $960.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Morgan Stanley cut Quanta Services to an “underweight” rating in a report on Monday, August 3rd. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Deutsche Bank downgraded Quanta Services to a “sell” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $728.00 target price on Quanta Services in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $763.31.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $608.04 on Thursday. The company’s fifty day moving average price is $628.08 and its 200 day moving average price is $628.26. Quanta Services, Inc. has a 1 year low of $408.36 and a 1 year high of $788.75. The company has a market capitalization of $91.62 billion, a PE ratio of 55.08, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.16.

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

Quanta Services Dividend Announcement

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

Quanta Services 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.