Allspring Global Investments Holdings LLC Has $43.14 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 35.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,253 shares of the construction company's stock after selling 91,598 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Quanta Services worth $43,135,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PWR. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter valued at approximately $298,000. SVB Wealth LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at $323,000. Fisher Asset Management LLC increased its stake in shares of Quanta Services by 40.1% in the fourth quarter. Fisher Asset Management LLC now owns 989 shares of the construction company's stock worth $313,000 after acquiring an additional 283 shares during the last quarter. US Bancorp DE raised its holdings in shares of Quanta Services by 12.6% during the fourth quarter. US Bancorp DE now owns 17,917 shares of the construction company's stock worth $5,663,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in Quanta Services by 2.1% during the fourth quarter. Metis Global Partners LLC now owns 5,992 shares of the construction company's stock valued at $1,894,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR traded up $13.10 on Friday, reaching $386.51. 869,625 shares of the stock traded hands, compared to its average volume of 1,121,142. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $387.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock's 50-day moving average price is $347.47 and its 200-day moving average price is $308.59. The firm has a market cap of $57.30 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 3.01 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the firm earned $1.41 EPS. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. Quanta Services's payout ratio is presently 6.45%.

Analyst Ratings Changes

PWR has been the subject of several research reports. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday. DA Davidson raised their price objective on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. B. Riley upped their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average target price of $350.95.

About Quanta Services

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.