Quanta Services, Inc. $PWR Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Quanta Services stake by 179.5% in the third quarter, adding 295,490 shares to reach 460,076 shares, valued at about $295.6 million.
• Quanta reported quarterly EPS of $6.06, beating estimates of $5.02, while revenue of $12.01 billion exceeded forecasts and rose 57.4% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $763.31.

Aberdeen Group plc increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 179.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,076 shares of the construction company's stock after purchasing an additional 295,490 shares during the quarter. Aberdeen Group plc owned approximately 0.31% of Quanta Services worth $295,603,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Boreal Capital Management LLC acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $27,000. Cornerstone Financial Management LLC lifted its stake in Quanta Services by 70.4% in the second quarter. Cornerstone Financial Management LLC now owns 46 shares of the construction company's stock valued at $33,000 after acquiring an additional 19 shares during the last quarter. JNBA Financial Advisors grew its position in shares of Quanta Services by 1,733.3% in the 2nd quarter. JNBA Financial Advisors now owns 55 shares of the construction company's stock valued at $40,000 after acquiring an additional 52 shares during the period. Joseph Group Capital Management grew its position in shares of Quanta Services by 39.1% in the 3rd quarter. Joseph Group Capital Management now owns 64 shares of the construction company's stock valued at $41,000 after acquiring an additional 18 shares during the period. Finally, SouthState Bank Corp increased its stake in shares of Quanta Services by 23.5% during the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company's stock worth $46,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $601.48 on Friday. The firm has a market cap of $90.63 billion, a P/E ratio of 54.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60. Quanta Services, Inc. has a 1-year low of $408.36 and a 1-year high of $788.75. The business's 50 day moving average is $627.61 and its 200-day moving average is $629.55.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $11.03 billion. During the same period in the previous year, the company posted $3.33 EPS. The firm's quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts predict that Quanta Services, Inc. will post 16.61 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued 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 currently 3.99%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. KeyCorp raised shares of Quanta Services from a "sector weight" rating to an "overweight" rating and set a $807.00 target price on the stock in a report on Friday, August 7th. Jefferies Financial Group reissued a "buy" rating and set a $760.00 price target on shares of Quanta Services in a research report on Monday, November 2nd. Sanford C. Bernstein upgraded Quanta Services from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $748.00 to $775.00 in a research note on Thursday, September 24th. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Finally, Benchmark cut Quanta Services to a "sell" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $763.31.

Quanta Services Company Profile

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company's services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.

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