Vanguard Group Inc. Grows Position in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Vanguard Group Inc. increased its stake in Quanta Services to $4.43 billion, owning 11.75% of the company after acquiring additional shares in the first quarter.
• Quanta Services reported a net income margin of 3.73% for the previous quarter, with earnings per share (EPS) of $2.48, exceeding analysts' expectations.
• The company recently announced a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1% and a dividend payout ratio of 6.19%.

Vanguard Group Inc. grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,417,299 shares of the construction company's stock after purchasing an additional 407,878 shares during the period. Vanguard Group Inc. owned 11.75% of Quanta Services worth $4,427,129,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PWR. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $298,000. World Investment Advisors bought a new stake in shares of Quanta Services during the fourth quarter valued at about $229,000. Envestnet Asset Management Inc. increased its stake in Quanta Services by 11.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 186,693 shares of the construction company's stock worth $59,004,000 after purchasing an additional 18,548 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Quanta Services by 0.5% during the 4th quarter. Russell Investments Group Ltd. now owns 69,126 shares of the construction company's stock valued at $21,926,000 after acquiring an additional 378 shares in the last quarter. Finally, F M Investments LLC grew its stake in shares of Quanta Services by 8.5% in the 4th quarter. F M Investments LLC now owns 28,384 shares of the construction company's stock valued at $8,971,000 after buying an additional 2,223 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. UBS Group upped their price target on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. TD Cowen increased their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Evercore ISI raised their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $392.45.

Quanta Services Price Performance

Shares of PWR traded up $2.29 during trading hours on Tuesday, reaching $386.41. The stock had a trading volume of 239,359 shares, compared to its average volume of 1,421,717. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock has a market capitalization of $57.58 billion, a PE ratio of 59.82, a PEG ratio of 2.30 and a beta of 1.10. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company's 50-day moving average is $381.01 and its two-hundred day moving average is $320.39.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.10 per share. 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 0.1%. Quanta Services's dividend payout ratio is 6.19%.

About Quanta Services

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.