Skandinaviska Enskilda Banken AB publ Buys 1,000 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in Quanta Services, acquiring an additional 1,000 shares, bringing its total to 30,795 shares valued at approximately $7.83 million.
• Quanta Services reported earnings per share (EPS) of $1.78 for the latest quarter, exceeding estimates and showing a revenue growth of 23.9% year-over-year.
• The stock has a current consensus rating of "Moderate Buy" among analysts, with a target price forecast of approximately $362.25.

Skandinaviska Enskilda Banken AB publ lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,795 shares of the construction company's stock after purchasing an additional 1,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Quanta Services were worth $7,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $298,000. Teacher Retirement System of Texas boosted its position in shares of Quanta Services by 40.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,379 shares of the construction company's stock worth $436,000 after purchasing an additional 399 shares in the last quarter. NEOS Investment Management LLC boosted its position in shares of Quanta Services by 72.5% in the 4th quarter. NEOS Investment Management LLC now owns 8,231 shares of the construction company's stock worth $2,601,000 after purchasing an additional 3,459 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $63,000. Finally, Blair William & Co. IL boosted its position in shares of Quanta Services by 37.2% in the 4th quarter. Blair William & Co. IL now owns 36,331 shares of the construction company's stock worth $11,482,000 after purchasing an additional 9,859 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $14.84 during midday trading on Friday, hitting $422.06. The company had a trading volume of 1,370,755 shares, compared to its average volume of 984,399. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market cap of $62.57 billion, a price-to-earnings ratio of 68.07, a PEG ratio of 2.90 and a beta of 1.08. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a fifty day moving average of $368.62 and a two-hundred day moving average of $315.83.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the business posted $1.41 EPS. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.09%. Quanta Services's payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of analyst reports. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. B. Riley upped their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus upped their price objective on Quanta Services from $363.00 to $411.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.25.

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.