Allianz SE Acquires New Position in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Allianz SE has acquired a new position in Quanta Services by purchasing 1,316 shares valued at approximately $335,000 during the first quarter.
• Quanta Services has reported better-than-expected earnings, with a quarterly EPS of $2.48, surpassing the consensus estimate of $2.44.
• The company also announced a quarterly dividend of $0.10 per share, reflecting a 0.1% yield, with an annualized payout of $0.40.

Allianz SE acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,316 shares of the construction company's stock, valued at approximately $335,000.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the period. GAMMA Investing LLC grew its holdings in Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares during the period. Bank of America Corp DE increased its position in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after buying an additional 506,722 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after buying an additional 504,540 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after acquiring an additional 373,429 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 0.5%

Shares of Quanta Services stock traded down $1.81 on Wednesday, reaching $387.31. The company had a trading volume of 930,295 shares, compared to its average volume of 1,251,670. The firm's 50-day moving average price is $377.48 and its two-hundred day moving average price is $319.69. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The firm has a market cap of $57.71 billion, a price-to-earnings ratio of 59.96, a P/E/G ratio of 2.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

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

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday. Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a report on Wednesday, July 2nd. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, B. Riley increased their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.