Royal London Asset Management Ltd. Purchases 2,415 Shares of Quanta Services, Inc. (NYSE:PWR)

Royal London Asset Management Ltd. lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,723 shares of the construction company’s stock after purchasing an additional 2,415 shares during the period. Royal London Asset Management Ltd.’s holdings in Quanta Services were worth $17,801,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new stake in Quanta Services in the second quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services in the second quarter worth about $38,000. MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services in the third quarter worth about $41,000. Finally, Eastern Bank bought a new position in shares of Quanta Services during the 3rd quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Citigroup increased their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $316.81.

Quanta Services Trading Down 0.8 %

PWR stock opened at $332.36 on Friday. The firm has a market cap of $49.06 billion, a PE ratio of 61.32 and a beta of 1.03. The firm has a fifty day moving average price of $319.67 and a 200 day moving average price of $285.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $2.08 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed 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. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

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.