Quanta Services, Inc. $PWR Holdings Increased by Northeast Investment Management

Key Points

• Northeast Investment Management increased its Quanta Services stake 16.4% in the third quarter, to 41,251 shares valued at about $26.5 million. Institutional investors and hedge funds own 90.49% of the company.
• Quanta reported quarterly EPS of $6.06, beating the $5.02 consensus, while revenue rose 57.4% year over year to $12.01 billion. The article also reports the stock was down 11.6%.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $763.81; 23 analysts rate the stock Buy, seven Hold, and three Sell.

Northeast Investment Management raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 41,251 shares of the construction company's stock after acquiring an additional 5,818 shares during the period. Northeast Investment Management's holdings in Quanta Services were worth $26,504,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its stake in Quanta Services by 2.1% in the third quarter. Chicago Partners Investment Group LLC now owns 6,073 shares of the construction company's stock valued at $3,319,000 after buying an additional 122 shares during the period. Caldwell Trust Co boosted its holdings in Quanta Services by 8.6% during the third quarter. Caldwell Trust Co now owns 15,504 shares of the construction company's stock worth $9,961,000 after buying an additional 1,232 shares during the last quarter. 3Chopt Investment Partners LLC bought a new position in Quanta Services during the third quarter worth about $218,000. Rakuten Investment Management Inc. acquired a new position in shares of Quanta Services during the 3rd quarter worth about $17,577,000. Finally, Third View Private Wealth LLC grew its position in shares of Quanta Services by 27.5% during the 3rd quarter. Third View Private Wealth LLC now owns 881 shares of the construction company's stock worth $566,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 11.6%

NYSE PWR opened at $580.59 on Thursday. The firm has a market cap of $87.48 billion, a P/E ratio of 52.59, a P/E/G ratio of 1.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The stock's 50-day moving average is $632.70 and its 200-day moving average is $625.80. Quanta Services, Inc. has a one year low of $408.36 and a one year high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The business had revenue of $12.01 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the firm earned $3.33 EPS. Quanta Services's quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts anticipate that Quanta Services, Inc. will post 16.61 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is presently 3.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PWR shares. Robert W. Baird set a $728.00 price target on shares of Quanta Services in a research report on Friday, July 31st. Truist Financial lifted their price objective on shares of Quanta Services from $945.00 to $960.00 and gave the stock a "buy" rating in a research note on Tuesday, October 27th. Jefferies Financial Group restated a "buy" rating and set a $760.00 price objective on shares of Quanta Services in a report on Monday. Deutsche Bank Aktiengesellschaft downgraded shares of Quanta Services to a "sell" rating in a research note on Friday, July 31st. Finally, Sanford C. Bernstein upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $748.00 to $775.00 in a report on Thursday, September 24th. Twenty-three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $763.81.

Quanta Services Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.

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