Quanta Services, Inc. $PWR Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,059 shares of the construction company’s stock after selling 2,058 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Quanta Services worth $81,944,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PWR. Eurizon Capital SGR S.p.A. grew its position in Quanta Services by 10.2% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 43,261 shares of the construction company’s stock valued at $27,828,000 after buying an additional 4,020 shares in the last quarter. R Squared Ltd raised its position in shares of Quanta Services by 7.9% during the 3rd quarter. R Squared Ltd now owns 561 shares of the construction company’s stock worth $360,000 after buying an additional 41 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Quanta Services by 4.0% during the 3rd quarter. CENTRAL TRUST Co now owns 1,023 shares of the construction company’s stock worth $657,000 after buying an additional 39 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Quanta Services by 3.6% during the 3rd quarter. Fifth Third Bancorp now owns 37,351 shares of the construction company’s stock worth $23,998,000 after buying an additional 1,282 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.8%

NYSE PWR traded down $4.68 on Friday, hitting $601.48. 740,843 shares of the company were exchanged, compared to its average volume of 1,758,007. The company’s 50 day moving average price is $627.61 and its 200-day moving average price is $629.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The firm has a market capitalization of $90.63 billion, a P/E ratio of 54.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. Quanta Services, Inc. has a twelve month low of $408.36 and a twelve month high of $788.75.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.02 by $1.04. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period last year, the company posted $3.33 earnings per share. Analysts predict that Quanta Services, Inc. will post 16.61 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 3.99%.

Analysts Set New Price Targets

PWR has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $862.00 price target on shares of Quanta Services in a research report on Monday, October 5th. Raymond James Financial set a $830.00 price objective on shares of Quanta Services in a research report on Thursday, October 29th. Robert W. Baird set a $728.00 target price on shares of Quanta Services in a report on Friday, July 31st. Piper Sandler decreased their price target on shares of Quanta Services from $714.00 to $701.00 and set an “overweight” rating on the stock in a research report on Monday, November 9th. Finally, KeyCorp raised Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price target on the stock in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $763.31.

Quanta Services Company Profile

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.