UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Quanta Services, Inc. (NYSE:PWR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,060,052 shares of the construction company’s stock after acquiring an additional 43,715 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Quanta Services were worth $316,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in Quanta Services by 1.0% in the first quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock worth $5,469,000 after acquiring an additional 201 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Quanta Services by 37.9% during the 1st quarter. iA Global Asset Management Inc. now owns 2,165 shares of the construction company’s stock valued at $562,000 after purchasing an additional 595 shares in the last quarter. Cetera Investment Advisers raised its holdings in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after buying an additional 21,003 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Quanta Services by 74.2% in the first quarter. Cetera Advisors LLC now owns 19,352 shares of the construction company’s stock worth $5,028,000 after buying an additional 8,246 shares in the last quarter. Finally, Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the first quarter valued at approximately $26,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $344.52 on Friday. The stock has a market cap of $50.86 billion, a P/E ratio of 63.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s fifty day moving average is $314.64 and its 200 day moving average is $282.28. Quanta Services, Inc. has a one year low of $186.18 and a one year high of $350.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is 7.38%.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Finally, TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.27.

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.