Raiffeisen Bank International AG Grows Position in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Raiffeisen Bank International AG increased its stake in Quanta Services, Inc. by 156.7%, acquiring a total of 222,458 shares worth approximately $56.57 million as of the most recent quarter.
• Quanta Services reported a 21.1% year-over-year revenue growth with earnings per share of $2.48, surpassing analyst estimates, mainly driven by strong performance in the electric power infrastructure sector.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1%, with a current dividend payout ratio of 6.19%.

Raiffeisen Bank International AG grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 156.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,458 shares of the construction company's stock after purchasing an additional 135,807 shares during the quarter. Raiffeisen Bank International AG owned approximately 0.15% of Quanta Services worth $56,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PWR. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter worth approximately $298,000. World Investment Advisors purchased a new position in shares of Quanta Services during the 4th quarter valued at $229,000. ExodusPoint Capital Management LP purchased a new position in shares of Quanta Services during the 4th quarter valued at $2,541,000. Prudential PLC lifted its position in shares of Quanta Services by 20.2% during the 4th quarter. Prudential PLC now owns 4,966 shares of the construction company's stock valued at $1,570,000 after buying an additional 834 shares during the last quarter. Finally, Smith Moore & CO. purchased a new position in shares of Quanta Services during the 4th quarter valued at $206,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Roth Capital reaffirmed a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Piper Sandler reissued an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. B. Riley increased their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Truist Financial raised their price target on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $390.18.

Quanta Services Trading Down 1.4%

PWR traded down $5.50 on Tuesday, hitting $388.12. 271,146 shares of the company were exchanged, compared to its average volume of 1,439,450. The firm has a fifty day simple moving average of $376.54 and a two-hundred day simple moving average of $319.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock has a market capitalization of $57.54 billion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10.

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

Quanta Services Announces Dividend

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

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.