Lazard Freres Gestion S.A.S. Grows Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Lazard Freres Gestion S.A.S. increased its stake in Quanta Services by 31.8%, owning 3,150 shares valued at approximately $800,000 as of the latest filing with the SEC.
• The stock received mixed ratings from analysts, with some upgrading it to a "strong-buy" and others downgrading it to "market perform", reflecting varied outlooks on its price targets.
• Quanta Services announced a quarterly dividend of $0.10 per share, resulting in a 0.09% dividend yield based on its current share price.

Lazard Freres Gestion S.A.S. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,150 shares of the construction company's stock after buying an additional 760 shares during the period. Lazard Freres Gestion S.A.S.'s holdings in Quanta Services were worth $800,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Mackenzie Financial Corp lifted its position in Quanta Services by 11.7% during the first quarter. Mackenzie Financial Corp now owns 14,785 shares of the construction company's stock valued at $3,758,000 after purchasing an additional 1,543 shares during the last quarter. Abbot Financial Management Inc. lifted its holdings in shares of Quanta Services by 45.6% during the 1st quarter. Abbot Financial Management Inc. now owns 1,885 shares of the construction company's stock worth $479,000 after acquiring an additional 590 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Quanta Services during the 1st quarter worth $43,000. LPL Financial LLC lifted its holdings in shares of Quanta Services by 19.2% during the 1st quarter. LPL Financial LLC now owns 238,596 shares of the construction company's stock worth $60,646,000 after acquiring an additional 38,449 shares during the last quarter. Finally, Second Half Financial Partners LLC lifted its stake in Quanta Services by 29.5% during the first quarter. Second Half Financial Partners LLC now owns 1,779 shares of the construction company's stock worth $452,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. TD Cowen boosted their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $363.00 to $411.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Truist Financial lowered their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, UBS Group boosted their target price on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Eleven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.23.

Quanta Services Price Performance

Shares of PWR traded down $8.65 during trading hours on Thursday, reaching $402.46. 1,703,566 shares of the stock traded hands, compared to its average volume of 1,437,849. The company's 50-day moving average price is $371.30 and its two-hundred day moving average price is $317.20. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The company has a market cap of $59.67 billion, a P/E ratio of 64.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate 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 3.74% and a return on equity of 18.06%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.10%. Quanta Services's dividend payout ratio (DPR) is 6.45%.

Quanta Services 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.