Quanta Services, Inc. (NYSE:PWR) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 552,581 shares of the construction company's stock after purchasing an additional 35,543 shares during the period. DekaBank Deutsche Girozentrale owned about 0.37% of Quanta Services worth $137,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter valued at $298,000. Assetmark Inc. grew its holdings in Quanta Services by 15.0% during the 4th quarter. Assetmark Inc. now owns 6,648 shares of the construction company's stock valued at $2,101,000 after buying an additional 867 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Quanta Services during the 4th quarter valued at about $53,949,000. Vestmark Advisory Solutions Inc. grew its holdings in shares of Quanta Services by 10.9% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,048 shares of the construction company's stock worth $331,000 after purchasing an additional 103 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock worth $144,000 after purchasing an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PWR shares. UBS Group set a $413.00 target price on Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Truist Financial decreased their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. 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 research report on Tuesday, May 27th. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $350.95.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $7.96 during trading on Tuesday, hitting $377.84. The stock had a trading volume of 1,154,614 shares, compared to its average volume of 1,476,226. The stock has a 50-day simple moving average of $349.35 and a two-hundred day simple moving average of $308.81. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $56.02 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $388.00.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 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 11th. Investors 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 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is presently 6.45%.

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.