Czech National Bank Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Czech National Bank lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,012 shares of the construction company’s stock after buying an additional 2,185 shares during the period. Czech National Bank’s holdings in Quanta Services were worth $8,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PWR. Nomura Holdings Inc. purchased a new stake in Quanta Services during the 4th quarter valued at $631,000. Wellington Management Group LLP raised its position in Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after buying an additional 191,334 shares during the period. Allen Investment Management LLC grew its position in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after buying an additional 31,196 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.3 %

Shares of Quanta Services stock opened at $307.61 on Thursday. The company has a 50-day simple moving average of $273.36 and a two-hundred day simple moving average of $266.60. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $312.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market capitalization of $45.03 billion, a PE ratio of 59.61 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Activity

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Citigroup lifted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. TD Cowen increased their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Northland Securities raised their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.50.

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.