XTX Topco Ltd Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

XTX Topco Ltd cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 69.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 822 shares of the construction company's stock after selling 1,907 shares during the period. XTX Topco Ltd's holdings in Quanta Services were worth $209,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after purchasing an additional 504,540 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Quanta Services by 210.8% in the fourth quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after purchasing an additional 373,429 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Evercore ISI lifted their price objective on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Citigroup boosted their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Truist Financial boosted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Roth Capital reiterated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $392.45.

Quanta Services Trading Up 0.6%

Shares of Quanta Services stock traded up $2.45 during mid-day trading on Friday, hitting $379.96. 1,436,415 shares of the stock were exchanged, compared to its average volume of 1,312,980. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The stock has a market capitalization of $56.62 billion, a price-to-earnings ratio of 58.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. The company has a 50-day simple moving average of $382.86 and a 200 day simple moving average of $322.64. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) 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 period last year, the company earned $1.90 EPS. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is 6.19%.

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.