Richardson Financial Services Inc. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Richardson Financial Services Inc. acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWRFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,889 shares of the construction company’s stock, valued at approximately $623,000.

A number of other institutional investors have also recently made changes to their positions in PWR. Artisan Partners Limited Partnership boosted its stake in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after purchasing an additional 1,935,786 shares during the period. Norges Bank purchased a new stake in Quanta Services in the fourth quarter worth $335,777,000. Public Employees Retirement Association of Colorado lifted its stake in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after acquiring an additional 1,052,496 shares during the period. Nordea Investment Management AB lifted its stake in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares during the period. Finally, Capital World Investors lifted its stake in Quanta Services by 11.6% in the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after acquiring an additional 624,545 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $3.41 during trading on Friday, hitting $273.29. 762,135 shares of the company’s stock traded hands, compared to its average volume of 874,398. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The stock has a market capitalization of $40.01 billion, a P/E ratio of 52.96 and a beta of 1.05. The business has a 50-day simple moving average of $264.73 and a 200-day simple moving average of $235.29.

Quanta Services (NYSE:PWRGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. DA Davidson increased their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. TD Cowen increased their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Argus raised their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group raised their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

View Our Latest Stock Report on PWR

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Quanta Services Profile

(Free Report)

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.

Further Reading

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

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