Price T Rowe Associates Inc. MD Increases Position in Quanta Services Inc (NYSE:PWR)
Price T Rowe Associates Inc. MD grew its stake in Quanta Services Inc (NYSE:PWR) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,667 shares of the construction company’s stock after acquiring an additional 4,087 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Quanta Services were worth $10,871,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new position in shares of Quanta Services in the 2nd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in Quanta Services by 65.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,320 shares of the construction company’s stock worth $50,000 after buying an additional 520 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Quanta Services during the 2nd quarter worth $59,000. Parallel Advisors LLC grew its stake in Quanta Services by 33.6% during the 2nd quarter. Parallel Advisors LLC now owns 2,525 shares of the construction company’s stock worth $96,000 after buying an additional 635 shares during the last quarter. Finally, Centaurus Financial Inc. grew its stake in Quanta Services by 2,548.4% during the 2nd quarter. Centaurus Financial Inc. now owns 3,231 shares of the construction company’s stock worth $123,000 after buying an additional 3,109 shares during the last quarter. Institutional investors and hedge funds own 85.90% of the company’s stock.
Quanta Services stock opened at $37.07 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.93 and a current ratio of 1.97. The business’s 50-day simple moving average is $35.89 and its two-hundred day simple moving average is $37.01. The company has a market cap of $5.27 billion, a PE ratio of 14.65 and a beta of 1.20. Quanta Services Inc has a fifty-two week low of $27.90 and a fifty-two week high of $41.00.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.16 annualized dividend and a yield of 0.43%. Quanta Services’s payout ratio is presently 6.32%.
Several research analysts recently weighed in on the company. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stephens set a $42.00 target price on Quanta Services and gave the stock a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus boosted their target price on Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup boosted their target price on Quanta Services from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.57.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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