Quanta Services, Inc. (NYSE:PWR) Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,760,260 shares of the construction company’s stock after acquiring an additional 156,627 shares during the period. JPMorgan Chase & Co. owned 4.62% of Quanta Services worth $1,756,316,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PWR. Artisan Partners Limited Partnership boosted its position in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the period. Norges Bank bought a new position in shares of Quanta Services in the fourth quarter valued at $335,777,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares in the last quarter. Capital World Investors increased its holdings in shares of Quanta Services by 11.6% in the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after buying an additional 624,545 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Quanta Services by 797.6% in the fourth quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock valued at $132,487,000 after buying an additional 545,534 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PWR shares. Truist Financial reaffirmed a “buy” rating and issued a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. The Goldman Sachs Group boosted their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Robert W. Baird boosted their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson boosted their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Evercore ISI boosted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.33.

Quanta Services Stock Down 2.3 %

NYSE:PWR traded down $6.15 during trading hours on Friday, reaching $258.56. The company’s stock had a trading volume of 1,122,240 shares, compared to its average volume of 1,010,109. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 50.11 and a beta of 1.03. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The business’s 50-day moving average is $267.66 and its 200-day moving average is $245.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Equities research analysts predict that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

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.