CHURCHILL MANAGEMENT Corp Has $1.38 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

CHURCHILL MANAGEMENT Corp trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,356 shares of the construction company’s stock after selling 489 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Quanta Services were worth $1,377,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after acquiring an additional 46,357 shares during the period. Electron Capital Partners LLC grew its stake in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 period. Finally, Swedbank AB raised its stake in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PWR shares. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Citigroup raised their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Up 2.0 %

Shares of PWR stock opened at $335.92 on Friday. The firm’s fifty day moving average price is $329.23 and its two-hundred day moving average price is $295.52. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. 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 firm has a market capitalization of $49.59 billion, a P/E ratio of 61.98 and a beta of 1.06.

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

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.