Alkeon Capital Management LLC Has $193.80 Million Position in Quanta Services, Inc. (NYSE:PWR)

Alkeon Capital Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 62.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 650,000 shares of the construction company’s stock after purchasing an additional 250,000 shares during the period. Alkeon Capital Management LLC’s holdings in Quanta Services were worth $193,798,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Electron Capital Partners LLC boosted its stake in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Swedbank AB grew its holdings in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Quanta Services by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after purchasing an additional 11,565 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Truist Financial lifted their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Price Performance

Shares of PWR stock opened at $343.94 on Friday. The firm’s 50 day moving average price is $313.56 and its two-hundred day moving average price is $281.85. The stock has a market cap of $50.77 billion, a PE ratio of 63.46 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last announced 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a $0.10 dividend. 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 of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

Quanta Services 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.