Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Park Place Capital Corp

by · The Cerbat Gem

Park Place Capital Corp boosted its position in Quanta Services, Inc. (NYSE:PWR – Free Report) by 21.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,456 shares of the construction company’s stock after purchasing an additional 787 shares during the period. Park Place Capital Corp’s holdings in Quanta Services were worth $1,408,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares in the last quarter. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after buying an additional 43,715 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.9 %

Shares of NYSE:PWR opened at $364.91 on Wednesday. The stock has a market capitalization of $53.86 billion, a PE ratio of 67.33 and a beta of 1.06. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $364.91. The firm has a fifty day moving average price of $330.11 and a 200 day moving average price of $298.10. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. Analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. Citigroup upped their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

View Our Latest Analysis on Quanta Services

About Quanta Services

(Free Report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s 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; 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.

See Also

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