Quanta Services, Inc. (NYSE:PWR) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Quanta Services, Inc. (NYSE:PWRGet Rating) by 2.9% during the second quarter, Holdings Channel.com reports. The fund owned 20,640 shares of the construction company’s stock after acquiring an additional 575 shares during the period. State of Alaska Department of Revenue’s holdings in Quanta Services were worth $2,587,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Quanta Services by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after acquiring an additional 182,092 shares during the last quarter. BlackRock Inc. lifted its holdings in Quanta Services by 0.5% in the 4th quarter. BlackRock Inc. now owns 10,971,737 shares of the construction company’s stock valued at $1,258,019,000 after purchasing an additional 50,338 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Quanta Services by 32.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,530,170 shares of the construction company’s stock valued at $727,826,000 after purchasing an additional 1,370,362 shares in the last quarter. State Street Corp lifted its holdings in Quanta Services by 0.4% in the 1st quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock valued at $626,204,000 after purchasing an additional 20,702 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Quanta Services by 52.2% in the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after purchasing an additional 511,508 shares in the last quarter. 91.79% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.6 %

PWR opened at $135.71 on Friday. The firm has a 50 day moving average price of $139.36 and a 200 day moving average price of $129.50. The company has a market cap of $19.41 billion, a PE ratio of 44.06 and a beta of 1.08. Quanta Services, Inc. has a 1 year low of $93.91 and a 1 year high of $149.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.53 and a current ratio of 1.56.

Quanta Services (NYSE:PWRGet Rating) last posted its earnings results on Thursday, August 4th. The construction company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.16. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.03 billion. Quanta Services had a net margin of 2.92% and a return on equity of 15.97%. The company’s revenue was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 5.73 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, September 30th. Quanta Services’s dividend payout ratio (DPR) is presently 9.09%.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. Cowen upped their target price on shares of Quanta Services from $145.00 to $155.00 in a report on Thursday, August 11th. The Goldman Sachs Group lowered shares of Quanta Services from a “buy” rating to a “neutral” rating and set a $150.00 target price on the stock. in a report on Thursday, September 15th. DA Davidson upped their target price on shares of Quanta Services to $125.00 in a report on Tuesday, August 9th. Citigroup upped their target price on shares of Quanta Services from $145.00 to $152.00 in a report on Friday, July 22nd. Finally, Robert W. Baird increased their price objective on shares of Quanta Services from $136.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.17.

Quanta Services Profile

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Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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