Quanta Services, Inc. (NYSE:PWR) Holdings Boosted by Fred Alger Management LLC

Fred Alger Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,806 shares of the construction company’s stock after purchasing an additional 23,191 shares during the quarter. Fred Alger Management LLC owned approximately 0.17% of Quanta Services worth $76,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Quanta Services by 4.3% during the third 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 worth $316,055,000 after acquiring an additional 43,715 shares during the last quarter. Swedbank AB increased 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 acquiring an additional 42,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Quanta Services by 1.4% in 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 and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock opened at $343.94 on Friday. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $350.19. The company has a market capitalization of $50.77 billion, a price-to-earnings ratio of 63.46 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $314.64 and its 200-day simple moving average is $282.28.

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

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 6.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PWR shares. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Finally, Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.