Eurizon Capital SGR S.p.A. Buys 4,020 Shares of Quanta Services, Inc. $PWR

Eurizon Capital SGR S.p.A. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,261 shares of the construction company’s stock after buying an additional 4,020 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Quanta Services were worth $27,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd grew its position in Quanta Services by 7.9% during the third quarter. R Squared Ltd now owns 561 shares of the construction company’s stock valued at $360,000 after acquiring an additional 41 shares during the period. CENTRAL TRUST Co increased its stake in Quanta Services by 4.0% during the third quarter. CENTRAL TRUST Co now owns 1,023 shares of the construction company’s stock worth $657,000 after acquiring an additional 39 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Quanta Services by 3.6% in the 3rd quarter. Fifth Third Bancorp now owns 37,351 shares of the construction company’s stock worth $23,998,000 after purchasing an additional 1,282 shares during the period. Three Bridge Wealth Advisors LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth about $46,000. Finally, King Luther Capital Management Corp lifted its stake in shares of Quanta Services by 99.7% in the 3rd quarter. King Luther Capital Management Corp now owns 1,382 shares of the construction company’s stock valued at $888,000 after purchasing an additional 690 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.8%

Shares of NYSE:PWR opened at $601.48 on Friday. 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, Inc. has a 52-week low of $408.36 and a 52-week high of $788.75. The company has a 50 day moving average of $627.61 and a two-hundred day moving average of $629.55. The company has a market capitalization of $90.63 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29.

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

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on PWR shares. Morgan Stanley cut Quanta Services to an “underweight” rating in a report on Monday, August 3rd. The Goldman Sachs Group set a $781.00 price target on shares of Quanta Services in a report on Thursday, October 22nd. Mizuho set a $684.00 price objective on shares of Quanta Services in a research report on Wednesday, October 7th. Oppenheimer cut their target price on shares of Quanta Services from $835.00 to $800.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. Finally, Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.