Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 67,200.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,365 shares of the construction company’s stock after purchasing an additional 3,360 shares during the period. Plato Investment Management Ltd’s holdings in Quanta Services were worth $1,002,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares in the last quarter. Czech National Bank increased its position in shares of Quanta Services by 8.9% in the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Quanta Services by 892.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. B. Riley upped their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial upped their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Down 0.9 %

PWR stock opened at $323.87 on Friday. The company’s 50-day simple moving average is $300.29 and its 200-day simple moving average is $277.12. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00. The firm has a market cap of $47.81 billion, a P/E ratio of 59.75 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company posted $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.64%.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Company Profile

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.