UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Quanta Services, Inc. (NYSE:PWR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,060,052 shares of the construction company’s stock after acquiring an additional 43,715 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.72% of Quanta Services worth $316,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cambridge Trust Co. purchased a new stake in Quanta Services in the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at $33,000. Quest Partners LLC bought a new stake in shares of Quanta Services during the 2nd quarter worth $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Quanta Services in the second quarter worth $38,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the third quarter valued at $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $344.52 on Friday. The company has a market cap of $50.86 billion, a PE ratio of 63.56 and a beta of 1.01. The business has a 50 day moving average of $314.64 and a 200 day moving average of $282.28. Quanta Services, Inc. has a 52 week low of $186.18 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.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the business earned $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 7.38%.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

About Quanta Services

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.