Temasek Holdings Private Ltd Acquires 23,123 Shares of Quanta Services, Inc. (NYSE:PWR)

Temasek Holdings Private Ltd raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 210.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,095 shares of the construction company’s stock after acquiring an additional 23,123 shares during the period. Temasek Holdings Private Ltd’s holdings in Quanta Services were worth $10,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new position in shares of Quanta Services during the fourth quarter worth about $25,000. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Quarry LP purchased a new position in Quanta Services in the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services in the 4th quarter worth $27,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PWR. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Truist Financial decreased their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen upped their target price on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $344.35.

Quanta Services Stock Up 1.3%

Shares of Quanta Services stock opened at $344.92 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company’s 50 day moving average price is $281.22 and its 200-day moving average price is $301.67. The stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.45%.

Quanta Services 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.