MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in Quanta Services, Inc. (NYSE:PWR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,023,189 shares of the construction company's stock after acquiring an additional 59,102 shares during the quarter. Quanta Services comprises 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings, making the stock its 21st largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Quanta Services worth $323,381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Quanta Services by 1.0% in the fourth 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 period. Capital World Investors raised its position in 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 during the period. Geode Capital Management LLC raised its position in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. raised its position in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the period. Finally, Norges Bank purchased a new stake in Quanta Services in the fourth quarter valued at $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PWR. The Goldman Sachs Group reduced their target price on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Piper Sandler set a $360.00 price objective on Quanta Services and gave the company an "overweight" rating in a report on Tuesday, May 6th. DA Davidson boosted their price objective on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $344.35.

Quanta Services Stock Down 0.1%

Shares of NYSE PWR opened at $326.00 on Monday. The stock has a market cap of $48.33 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The business has a 50-day moving average price of $271.55 and a 200 day moving average price of $300.57.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the business posted $1.41 EPS. The company's revenue was up 23.9% on a year-over-year basis. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is 6.45%.

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.

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