XTX Topco Ltd Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

XTX Topco Ltd increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 445.2% in the 3rd quarter, Holdings Channel reports. The firm owned 10,207 shares of the construction company’s stock after buying an additional 8,335 shares during the period. XTX Topco Ltd’s holdings in Quanta Services were worth $3,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter valued at $33,000. Quest Partners LLC purchased a new position in Quanta Services in the second quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $38,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter valued at about $41,000. Finally, Eastern Bank purchased a new position in shares of Quanta Services in the third quarter worth approximately $44,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PWR shares. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.81.

Quanta Services Price Performance

PWR stock opened at $332.36 on Friday. The company has a fifty day simple moving average of $319.67 and a two-hundred day simple moving average of $285.28. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $49.06 billion, a P/E ratio of 61.32 and a beta of 1.03.

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

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is presently 6.64%.

Quanta Services 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.