Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Saturna Capital Corp

Saturna Capital Corp raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,553 shares of the construction company’s stock after buying an additional 153 shares during the period. Saturna Capital Corp’s holdings in Quanta Services were worth $2,252,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PWR. Empowered Funds LLC raised its holdings in shares of Quanta Services by 24.2% in the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock worth $477,000 after purchasing an additional 357 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Quanta Services by 12.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock worth $468,000 after purchasing an additional 202 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Quanta Services by 7.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,989 shares of the construction company’s stock worth $2,335,000 after purchasing an additional 588 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Quanta Services by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company’s stock worth $17,205,000 after purchasing an additional 2,767 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Quanta Services by 2.0% in the 1st quarter. US Bancorp DE now owns 13,603 shares of the construction company’s stock worth $3,534,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $325.00 on Wednesday. The company’s 50 day moving average price is $297.41 and its 200 day moving average price is $276.44. Quanta Services, Inc. has a 52 week low of $179.57 and a 52 week high of $335.00. The company has a market capitalization of $47.97 billion, a PE ratio of 60.40 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.

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

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is 6.64%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PWR shares. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insiders Place Their Bets

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.