KBC Group NV increased its position in Quanta Services, Inc. (NYSE:PWR) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,614 shares of the construction company’s stock after buying an additional 3,448 shares during the quarter. KBC Group NV’s holdings in Quanta Services were worth $5,685,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Norges Bank purchased a new position in shares of Quanta Services in the 4th quarter worth $104,795,000. Scout Investments Inc. purchased a new position in shares of Quanta Services in the 1st quarter worth $52,215,000. Vontobel Holding Ltd. purchased a new position in shares of Quanta Services in the 4th quarter worth $31,324,000. Rothschild & Co. Asset Management US Inc. raised its position in shares of Quanta Services by 26.7% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 1,527,142 shares of the construction company’s stock worth $109,984,000 after buying an additional 321,398 shares during the period. Finally, Glenmede Trust Co. NA raised its position in shares of Quanta Services by 320.7% in the 4th quarter. Glenmede Trust Co. NA now owns 354,529 shares of the construction company’s stock worth $25,533,000 after buying an additional 270,253 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. KeyCorp increased their price target on Quanta Services from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Citigroup increased their price target on Quanta Services from $75.00 to $89.00 in a report on Tuesday, January 19th. Finally, Credit Suisse Group increased their price target on Quanta Services from $89.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, March 4th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $72.55.
Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 25th. The construction company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.23. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.92 billion. Quanta Services had a return on equity of 11.61% and a net margin of 3.45%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. On average, equities research analysts forecast that Quanta Services, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Tuesday, April 6th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, April 5th. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Quanta Services’s dividend payout ratio is currently 7.87%.
In other Quanta Services news, insider Paul Craig Gregory sold 7,570 shares of the firm’s stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $86.56, for a total value of $655,259.20. Following the transaction, the insider now owns 133,316 shares of the company’s stock, valued at $11,539,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derrick A. Jensen sold 36,750 shares of the firm’s stock in a transaction dated Thursday, March 4th. The stock was sold at an average price of $80.99, for a total transaction of $2,976,382.50. Following the completion of the transaction, the chief financial officer now directly owns 373,212 shares in the company, valued at approximately $30,226,439.88. The disclosure for this sale can be found here. Insiders sold 158,930 shares of company stock worth $13,155,010 in the last three months. 1.40% of the stock is currently owned by corporate insiders.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services worldwide. The Electric Power Infrastructure Solutions segment engages in the design, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; energized installation, maintenance, and upgrade of electric power infrastructure; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.
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