Czech National Bank Acquires 1,898 Shares of Quanta Services, Inc. (NYSE:PWR)

Czech National Bank lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 33,904 shares of the construction company’s stock after buying an additional 1,898 shares during the period. Czech National Bank’s holdings in Quanta Services were worth $8,618,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its stake in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 2,184 shares during the last quarter. Allstate Corp bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $1,357,000. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $298,000. Quaero Capital S.A. increased its position in shares of Quanta Services by 198.2% during the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock valued at $2,253,000 after purchasing an additional 4,738 shares during the last quarter. Finally, Truist Financial Corp increased its position in Quanta Services by 3.9% during the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock valued at $151,659,000 after acquiring an additional 18,206 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR opened at $345.57 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The business’s fifty day simple moving average is $297.68 and its 200-day simple moving average is $303.25. The company has a market capitalization of $51.24 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. B. Riley upped their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Truist Financial cut their target price on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI upped their target price on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $344.85.

Quanta Services Company 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.