Prudential PLC Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Prudential PLC grew its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 41.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,445 shares of the construction company’s stock after acquiring an additional 3,363 shares during the quarter. Prudential PLC’s holdings in Quanta Services were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Valley National Advisers Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at about $41,000. Vestor Capital LLC purchased a new position in Quanta Services in the fourth quarter worth about $42,000. Planned Solutions Inc. bought a new stake in Quanta Services during the fourth quarter worth approximately $43,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Quanta Services by 58.1% in the 4th quarter. VisionPoint Advisory Group LLC now owns 215 shares of the construction company’s stock valued at $46,000 after purchasing an additional 79 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PWR shares. Truist Financial reaffirmed a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Robert W. Baird upped their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Citigroup lifted their target price on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. The Goldman Sachs Group upped their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Argus lifted their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Read Our Latest Stock Analysis on Quanta Services

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $269.32 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $39.43 billion, a P/E ratio of 52.19 and a beta of 1.05. The business has a fifty day moving average of $263.32 and a two-hundred day moving average of $232.46. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87.

Quanta Services (NYSE:PWRGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors 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 dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Quanta Services 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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