1,282 Quanta Services, Inc. $PWR Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,351 shares of the construction company’s stock after acquiring an additional 1,282 shares during the period. Fifth Third Bancorp’s holdings in Quanta Services were worth $23,998,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PWR. State Street Corp lifted its position in Quanta Services by 4.7% in the second quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after buying an additional 296,893 shares during the last quarter. Bank of America Corp DE grew its stake in Quanta Services by 5.4% in the first quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock valued at $1,891,215,000 after purchasing an additional 175,184 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Quanta Services by 7.1% during the 1st quarter. Royal Bank of Canada now owns 1,264,827 shares of the construction company’s stock worth $694,415,000 after acquiring an additional 83,363 shares in the last quarter. First Trust Advisors LP boosted its holdings in Quanta Services by 18.3% in the first quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock worth $551,170,000 after acquiring an additional 155,529 shares in the last quarter. Finally, Amundi raised its holdings in shares of Quanta Services by 10.3% in the first quarter. Amundi now owns 580,718 shares of the construction company’s stock worth $318,826,000 after buying an additional 54,237 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $601.48 on Friday. The company has a market cap of $90.63 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 1.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.16. The firm has a 50 day moving average price of $627.61 and a 200 day moving average price of $629.55. Quanta Services, Inc. has a 1 year low of $408.36 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company earned $3.33 EPS. The company’s revenue was up 57.4% on a year-over-year basis. Sell-side analysts predict that Quanta Services, Inc. will post 16.61 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s dividend payout ratio is currently 3.99%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PWR shares. TD Cowen boosted their target price on shares of Quanta Services from $785.00 to $830.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Benchmark downgraded shares of Quanta Services to a “sell” rating in a research note on Friday, July 31st. Morgan Stanley downgraded shares of Quanta Services to an “underweight” rating in a report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $760.00 target price on shares of Quanta Services in a research note on Monday, November 2nd. Finally, Robert W. Baird set a $728.00 price objective on Quanta Services in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $763.31.

Quanta Services Profile

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.