Wilmington Savings Fund Society FSB Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,550 shares of the construction company’s stock, valued at approximately $1,058,000.

Several other institutional investors have also recently made changes to their positions in PWR. Electron Capital Partners LLC raised its position in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. American Century Companies Inc. lifted its stake in shares of Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after acquiring an additional 369,581 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Massachusetts Financial Services Co. MA grew its position in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Quanta Services by 297.3% in the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock worth $53,455,000 after purchasing an additional 161,574 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.4 %

NYSE:PWR opened at $337.60 on Friday. The company’s 50-day simple moving average is $322.72 and its 200-day simple moving average is $287.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The stock has a market capitalization of $49.83 billion, a P/E ratio of 62.29 and a beta of 1.03.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate 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 was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PWR shares. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $321.69.

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.