Maryland State Retirement & Pension System Acquires 1,136 Shares of Quanta Services, Inc. $PWR

Maryland State Retirement & Pension System lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,154 shares of the construction company’s stock after purchasing an additional 1,136 shares during the period. Maryland State Retirement & Pension System’s holdings in Quanta Services were worth $5,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cetera Investment Advisers grew its stake in Quanta Services by 5.8% in the first quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after purchasing an additional 4,087 shares during the last quarter. WINTON GROUP Ltd bought a new position in Quanta Services in the second quarter worth about $1,066,000. State Street Corp lifted its position in shares of Quanta Services by 4.7% during the second quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock valued at $4,739,164,000 after buying an additional 296,893 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Quanta Services by 11.9% during the second quarter. Envestnet Asset Management Inc. now owns 225,059 shares of the construction company’s stock valued at $162,051,000 after buying an additional 23,850 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of Quanta Services by 90.3% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 8,040 shares of the construction company’s stock valued at $5,166,000 after buying an additional 3,815 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PWR shares. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Citigroup boosted their price objective on shares of Quanta Services from $871.00 to $882.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Benchmark cut shares of Quanta Services to a “sell” rating in a research report on Friday, July 31st. Deutsche Bank downgraded shares of Quanta Services to a “sell” rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $862.00 price target on shares of Quanta Services in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $763.31.

Quanta Services Trading Down 0.2%

Quanta Services stock opened at $606.61 on Friday. The stock has a 50-day moving average of $628.00 and a two-hundred day moving average of $628.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.16. Quanta Services, Inc. has a one year low of $408.36 and a one year high of $788.75. The stock has a market cap of $91.40 billion, a PE ratio of 54.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The business had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the company earned $3.33 earnings per share. The company’s quarterly revenue was up 57.4% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 16.61 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 3.99%.

Quanta Services Profile

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.