Allspring Global Investments Holdings LLC Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) by 28.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 51,391 shares of the construction company’s stock after selling 20,027 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Quanta Services were worth $6,546,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ronald Blue Trust Inc. purchased a new stake in shares of Quanta Services during the second quarter worth about $28,000. Atwood & Palmer Inc. boosted its position in Quanta Services by 116.0% in the second quarter. Atwood & Palmer Inc. now owns 270 shares of the construction company’s stock valued at $34,000 after buying an additional 145 shares during the last quarter. Hallmark Capital Management Inc. purchased a new stake in Quanta Services in the second quarter valued at approximately $35,000. Clear Street Markets LLC boosted its position in Quanta Services by 417.2% in the second quarter. Clear Street Markets LLC now owns 300 shares of the construction company’s stock valued at $38,000 after buying an additional 242 shares during the last quarter. Finally, CX Institutional purchased a new stake in Quanta Services in the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Quanta Services Trading Up 0.5 %

Shares of PWR stock opened at $148.50 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.60 and a quick ratio of 1.57. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 50.68 and a beta of 1.10. The stock has a 50 day simple moving average of $145.47 and a 200-day simple moving average of $139.38. Quanta Services, Inc. has a 1-year low of $93.91 and a 1-year high of $155.00.

Quanta Services (NYSE:PWRGet Rating) last announced its earnings results on Thursday, November 3rd. The construction company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.01). The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.38 billion. Quanta Services had a return on equity of 16.35% and a net margin of 2.61%. On average, equities research analysts expect that Quanta Services, Inc. will post 5.77 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. This is an increase from Quanta Services’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, December 30th. Quanta Services’s dividend payout ratio is presently 10.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PWR shares. Citigroup upped their target price on Quanta Services from $161.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, December 9th. KeyCorp upped their target price on Quanta Services from $156.00 to $174.00 in a research report on Tuesday, November 8th. UBS Group boosted their price target on Quanta Services to $170.00 in a report on Monday, November 21st. Cowen boosted their price target on Quanta Services from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, December 27th. Finally, Cowen boosted their price target on Quanta Services from $155.00 to $165.00 in a report on Tuesday, December 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $158.92.

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.

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

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