AMF Tjanstepension AB Invests $8.31 Million in Quanta Services, Inc. (NYSE:PWR)

AMF Tjanstepension AB bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, HoldingsChannel reports. The fund bought 32,704 shares of the construction company’s stock, valued at approximately $8,310,000.

A number of other hedge funds have also modified their holdings of PWR. Park Avenue Securities LLC grew its position in Quanta Services by 1.1% in the 2nd quarter. Park Avenue Securities LLC now owns 16,739 shares of the construction company’s stock valued at $4,253,000 after buying an additional 177 shares during the last quarter. Marion Wealth Management lifted its holdings in Quanta Services by 2.7% in the second quarter. Marion Wealth Management now owns 5,886 shares of the construction company’s stock valued at $1,496,000 after acquiring an additional 157 shares during the period. Westend Capital Management LLC lifted its holdings in Quanta Services by 0.5% in the second quarter. Westend Capital Management LLC now owns 43,118 shares of the construction company’s stock valued at $10,676,000 after acquiring an additional 230 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Quanta Services in the second quarter valued at $237,000. Finally, HBW Advisory Services LLC lifted its holdings in Quanta Services by 28.3% in the second quarter. HBW Advisory Services LLC now owns 1,361 shares of the construction company’s stock valued at $346,000 after acquiring an additional 300 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PWR shares. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Northland Securities lifted their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research note on Monday. Citigroup lifted their price target on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

Quanta Services Trading Up 0.2 %

Shares of NYSE:PWR traded up $0.47 during trading on Wednesday, reaching $248.50. 1,349,451 shares of the stock were exchanged, compared to its average volume of 966,410. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.30. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 48.16 and a beta of 1.03. The firm’s 50-day moving average price is $263.35 and its 200 day moving average price is $249.84.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business earned $1.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

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.