DekaBank Deutsche Girozentrale Buys 35,543 Shares of Quanta Services, Inc. (NYSE:PWR)

DekaBank Deutsche Girozentrale grew its position in Quanta Services, Inc. (NYSE:PWR) by 6.9% during the first quarter, HoldingsChannel reports. The firm owned 552,581 shares of the construction company’s stock after buying an additional 35,543 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Quanta Services were worth $137,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth $25,000. Quarry LP bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. increased its position in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after buying an additional 113 shares during the period. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services during the 1st quarter worth about $42,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock worth $47,000 after purchasing an additional 81 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PWR shares. TD Cowen boosted their price objective on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Evercore ISI raised their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Northland Securities lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $350.95.

Quanta Services Stock Down 1.6%

Shares of Quanta Services stock traded down $6.10 on Tuesday, hitting $379.70. The company had a trading volume of 127,567 shares, compared to its average volume of 1,467,877. The firm has a market capitalization of $56.30 billion, a P/E ratio of 61.24, a P/E/G ratio of 3.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $388.00. The stock has a 50-day moving average of $349.35 and a 200-day moving average of $308.81.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.45%.

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.