Franklin Resources Inc. Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Franklin Resources Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) by 52.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900,611 shares of the construction company’s stock after purchasing an additional 311,496 shares during the quarter. Franklin Resources Inc.’s holdings in Quanta Services were worth $112,884,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. lifted its stake in Quanta Services by 116.0% during the second quarter. Atwood & Palmer Inc. now owns 270 shares of the construction company’s stock worth $34,000 after purchasing an additional 145 shares during the last quarter. Hallmark Capital Management Inc. purchased a new stake in Quanta Services during the second quarter worth approximately $35,000. Clear Street Markets LLC lifted its stake in Quanta Services by 417.2% during the second quarter. Clear Street Markets LLC now owns 300 shares of the construction company’s stock worth $38,000 after purchasing an additional 242 shares during the last quarter. CX Institutional purchased a new stake in Quanta Services during the second quarter worth approximately $39,000. Finally, Trustcore Financial Services LLC lifted its stake in Quanta Services by 32.8% during the first quarter. Trustcore Financial Services LLC now owns 364 shares of the construction company’s stock worth $48,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. Robert W. Baird boosted their price objective on Quanta Services from $136.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Cowen boosted their price objective on Quanta Services from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. KeyCorp boosted their price objective on Quanta Services from $156.00 to $174.00 in a research note on Tuesday, November 8th. The Goldman Sachs Group cut Quanta Services from a “buy” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research note on Thursday, September 15th. Finally, Cowen boosted their price objective on Quanta Services from $145.00 to $155.00 in a research note on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.33.

Quanta Services Trading Down 1.1 %

NYSE:PWR opened at $146.20 on Thursday. The firm has a market cap of $20.89 billion, a P/E ratio of 49.90 and a beta of 1.10. The company has a current ratio of 1.60, a quick ratio of 1.57 and a debt-to-equity ratio of 0.75. The stock’s 50 day simple moving average is $137.44 and its 200-day simple moving average is $132.68. Quanta Services, Inc. has a 12-month low of $93.91 and a 12-month high of $151.77.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Friday, September 30th. Quanta Services’s dividend payout ratio is presently 9.56%.

Quanta Services Company Profile

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Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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