Quanta Services, Inc. $PWR Holdings Lessened by Danske Bank A S

Danske Bank A S lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,784 shares of the construction company’s stock after selling 14,028 shares during the quarter. Danske Bank A S’s holdings in Quanta Services were worth $89,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bartlett & CO. Wealth Management LLC raised its holdings in Quanta Services by 2.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock worth $282,000 after buying an additional 13 shares during the last quarter. Pincus Capital Management LP grew its holdings in shares of Quanta Services by 0.4% during the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock valued at $2,026,000 after buying an additional 15 shares during the last quarter. Joseph Group Capital Management grew its holdings in shares of Quanta Services by 39.1% during the third quarter. Joseph Group Capital Management now owns 64 shares of the construction company’s stock valued at $41,000 after buying an additional 18 shares during the last quarter. Brighton Jones LLC increased its position in shares of Quanta Services by 0.7% during the third quarter. Brighton Jones LLC now owns 2,515 shares of the construction company’s stock worth $1,616,000 after acquiring an additional 18 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Quanta Services by 17.1% during the first quarter. Cornerstone Planning Group LLC now owns 130 shares of the construction company’s stock worth $71,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group set a $781.00 target price on shares of Quanta Services in a report on Thursday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $760.00 price target on shares of Quanta Services in a research note on Monday, November 2nd. UBS Group reissued a “buy” rating on shares of Quanta Services in a report on Monday, August 17th. BTIG Research downgraded Quanta Services to a “hold” rating in a research note on Friday, July 31st. Finally, Benchmark downgraded Quanta Services to a “sell” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $763.31.

Quanta Services Stock Down 0.8%

Shares of PWR stock traded down $4.68 on Friday, hitting $601.48. The stock had a trading volume of 740,843 shares, compared to its average volume of 1,758,007. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The business has a 50 day moving average of $627.61 and a 200 day moving average of $629.55. Quanta Services, Inc. has a 12-month low of $408.36 and a 12-month high of $788.75. The stock has a market cap of $90.63 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29.

Quanta Services (NYSE:PWR) last released 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 net margin of 4.51% and a return on equity of 23.56%. The business had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the previous year, the company earned $3.33 earnings per share. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 16.61 EPS for the current year.

Quanta Services Announces Dividend

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