207,373 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by M.D. Sass LLC

Key Points

• M.D. Sass LLC acquired 207,373 shares of Quanta Services, Inc. for approximately $52.71 million, marking it as the 12th largest holding in their portfolio.
• Quanta Services reported $2.48 earnings per share for the last quarter, outperforming expectations, with revenues increasing by 21.1% year-over-year to $6.77 billion.
• The stock currently has an average target price of $379.32 and a Moderate Buy rating from analysts, with twelve analysts holding and fourteen issuing buy ratings.

M.D. Sass LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 207,373 shares of the construction company's stock, valued at approximately $52,710,000. Quanta Services accounts for about 4.6% of M.D. Sass LLC's investment portfolio, making the stock its 12th largest holding. M.D. Sass LLC owned approximately 0.14% of Quanta Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the period. Invesco Ltd. boosted its stake in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after acquiring an additional 506,722 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Quanta Services by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after acquiring an additional 232,375 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Quanta Services by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after acquiring an additional 82,981 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.4%

Shares of PWR traded down $5.50 on Tuesday, hitting $388.12. 271,146 shares of the stock traded hands, compared to its average volume of 1,439,450. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $57.54 billion, a P/E ratio of 60.08, a P/E/G ratio of 2.71 and a beta of 1.10. The stock's 50 day moving average is $376.54 and its two-hundred day moving average is $319.21. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is 6.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PWR shares. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Argus set a $375.00 price target on shares of Quanta Services in a research note on Monday, May 5th. Finally, B. Riley raised their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $390.18.

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.