Quanta Services, Inc. (NYSE:PWR) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,419 shares of the construction company’s stock after selling 10,559 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Quanta Services were worth $33,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Quanta Services by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock valued at $5,469,000 after acquiring an additional 201 shares in the last quarter. iA Global Asset Management Inc. grew its position in Quanta Services by 37.9% during the first quarter. iA Global Asset Management Inc. now owns 2,165 shares of the construction company’s stock valued at $562,000 after purchasing an additional 595 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Quanta Services by 74.2% during the first quarter. Cetera Advisors LLC now owns 19,352 shares of the construction company’s stock worth $5,028,000 after acquiring an additional 8,246 shares in the last quarter. Finally, Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the first quarter worth $26,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Finally, UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Up 0.2 %

PWR opened at $344.52 on Friday. Quanta Services, Inc. has a fifty-two week low of $186.18 and a fifty-two week high of $350.19. The company has a market capitalization of $50.86 billion, a P/E ratio of 63.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm’s fifty day moving average price is $315.72 and its two-hundred day moving average price is $282.83.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.08 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

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.