Rafferty Asset Management LLC Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Rafferty Asset Management LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWRFree Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,186 shares of the construction company’s stock after buying an additional 642 shares during the quarter. Rafferty Asset Management LLC’s holdings in Quanta Services were worth $2,630,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Quanta Services by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 785,182 shares of the construction company’s stock worth $146,884,000 after purchasing an additional 3,707 shares in the last quarter. Pathstone Family Office LLC boosted its position in Quanta Services by 19.2% during the third quarter. Pathstone Family Office LLC now owns 12,352 shares of the construction company’s stock worth $2,311,000 after purchasing an additional 1,991 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Quanta Services during the third quarter worth $9,858,000. Huntington National Bank boosted its position in Quanta Services by 13.0% during the third quarter. Huntington National Bank now owns 1,331 shares of the construction company’s stock worth $249,000 after purchasing an additional 153 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Quanta Services by 208,000.0% during the third quarter. Canada Pension Plan Investment Board now owns 20,810 shares of the construction company’s stock worth $3,893,000 after purchasing an additional 20,800 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PWR shares. The Goldman Sachs Group boosted their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Truist Financial restated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. B. Riley upped their price objective on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. DA Davidson upped their price objective on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Citigroup upped their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $268.85.

Check Out Our Latest Stock Report on Quanta Services

Quanta Services Stock Performance

Quanta Services stock opened at $269.32 on Friday. The firm has a market capitalization of $39.43 billion, a P/E ratio of 52.19 and a beta of 1.05. The stock has a fifty day moving average price of $263.32 and a 200 day moving average price of $231.79. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWRGet Free Report) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Equities research analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Quanta Services Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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