UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 82,981 Shares of Quanta Services, Inc. (NYSE:PWR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,143,033 shares of the construction company's stock after acquiring an additional 82,981 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.77% of Quanta Services worth $361,256,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. Capital World Investors grew its stake in shares of Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after acquiring an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Quanta Services during the 4th quarter valued at $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Up 1.8%

Shares of Quanta Services stock traded up $6.06 on Tuesday, hitting $341.42. 417,803 shares of the company's stock traded hands, compared to its average volume of 1,570,584. The company has a fifty day moving average of $290.60 and a two-hundred day moving average of $302.70. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a market capitalization of $50.62 billion, a price-to-earnings ratio of 56.62, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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, beating the consensus estimate of $1.72 by $0.06. The firm 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 18.00% and a net margin of 3.82%. The company's revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Citigroup cut their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research report on Friday, May 2nd. Finally, Piper Sandler lifted their price target on shares of Quanta Services from $360.00 to $370.00 and gave the stock an "overweight" rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $344.85.

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.