Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Putnam Investments LLC

Putnam Investments LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,295 shares of the construction company’s stock after buying an additional 220 shares during the period. Putnam Investments LLC’s holdings in Quanta Services were worth $8,381,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Quanta Services by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock worth $2,021,965,000 after buying an additional 182,092 shares during the period. JPMorgan Chase & Co. lifted its position in Quanta Services by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,055,835 shares of the construction company’s stock valued at $862,956,000 after purchasing an additional 501,131 shares during the period. FMR LLC lifted its position in Quanta Services by 19.7% in the first quarter. FMR LLC now owns 4,905,283 shares of the construction company’s stock valued at $817,416,000 after purchasing an additional 806,157 shares during the period. State Street Corp lifted its position in Quanta Services by 0.4% in the first quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock valued at $626,204,000 after purchasing an additional 20,702 shares during the period. Finally, Geode Capital Management LLC lifted its position in Quanta Services by 1.8% in the first quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock valued at $502,997,000 after purchasing an additional 53,317 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PWR. StockNews.com began coverage on shares of Quanta Services in a research report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group raised their price objective on shares of Quanta Services from $195.00 to $228.00 in a research report on Monday, July 10th. Credit Suisse Group raised their price objective on shares of Quanta Services from $201.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. DA Davidson increased their target price on shares of Quanta Services from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Finally, Northland Securities increased their target price on shares of Quanta Services from $190.00 to $210.00 in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $205.27.

Quanta Services Trading Down 1.8 %

Shares of PWR opened at $199.24 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.68 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $203.35 and a 200-day simple moving average of $182.91. Quanta Services, Inc. has a 1-year low of $123.25 and a 1-year high of $212.82. The stock has a market cap of $28.93 billion, a price-to-earnings ratio of 50.83 and a beta of 1.08.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.06). Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. The business had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Equities analysts forecast that Quanta Services, Inc. will post 6.47 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.32 annualized dividend and a yield of 0.16%. Quanta Services’s payout ratio is currently 8.16%.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 5,000 shares of Quanta Services stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $210.92, for a total value of $1,054,600.00. Following the completion of the sale, the executive vice president now directly owns 41,323 shares of the company’s stock, valued at approximately $8,715,847.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is 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 worldwide. 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.