Victory Capital Management Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 243.3% in the third quarter, Holdings Channel.com reports. The fund owned 248,138 shares of the construction company’s stock after acquiring an additional 175,859 shares during the period. Victory Capital Management Inc.’s holdings in Quanta Services were worth $31,610,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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. JPMorgan Chase & Co. lifted its stake in Quanta Services by 4.1% during the second quarter. JPMorgan Chase & Co. now owns 5,757,212 shares of the construction company’s stock valued at $721,609,000 after buying an additional 227,042 shares in the last quarter. State Street Corp lifted its stake in Quanta Services by 13.0% during the second quarter. State Street Corp now owns 5,376,754 shares of the construction company’s stock valued at $674,294,000 after buying an additional 618,725 shares in the last quarter. Royal Bank of Canada lifted its stake in Quanta Services by 52.2% during the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after buying an additional 511,508 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Quanta Services by 11.8% during the second quarter. Northern Trust Corp now owns 1,369,542 shares of the construction company’s stock valued at $171,658,000 after buying an additional 144,937 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. KeyCorp upped their price objective on shares of Quanta Services from $156.00 to $174.00 in a research note on Tuesday, November 8th. Credit Suisse Group upped their price objective on shares of Quanta Services from $168.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. Citigroup upped their target price on Quanta Services from $161.00 to $175.00 and gave the company a “buy” rating in a report on Friday, December 9th. Cowen upped their target price on Quanta Services from $155.00 to $165.00 in a report on Tuesday, December 27th. Finally, UBS Group upped their target price on Quanta Services to $170.00 in a report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.92.
Quanta Services Trading Up 1.9 %
Quanta Services (NYSE:PWR – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The construction company reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.01). The firm had revenue of $4.46 billion during 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, research analysts forecast that Quanta Services, Inc. will post 5.77 EPS for the current fiscal year.
Quanta Services Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. This is a boost from Quanta Services’s previous quarterly dividend of $0.07. Quanta Services’s dividend payout ratio is presently 10.92%.
Quanta Services Profile
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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