Metis Global Partners LLC Grows Position in Quanta Services, Inc. (NYSE:PWR)

Metis Global Partners LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,871 shares of the construction company’s stock after acquiring an additional 173 shares during the period. Metis Global Partners LLC’s holdings in Quanta Services were worth $1,750,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Electron Capital Partners LLC lifted its stake in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Swedbank AB acquired a new position in shares of Quanta Services in the 1st quarter valued at $227,218,000. Capital World Investors grew its position in shares of Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the last quarter. American Century Companies Inc. raised its stake in Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after acquiring an additional 369,581 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.2 %

Quanta Services stock opened at $323.33 on Friday. The stock’s 50 day moving average price is $301.80 and its 200 day moving average price is $277.68. The company has a market cap of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the company posted $2.08 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Analysts Set New Price Targets

PWR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Jefferies Financial Group started coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, B. Riley upped their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Company 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.