BNP Paribas Financial Markets Has $67.26 Million Position in Quanta Services, Inc. (NYSE:PWR)

BNP Paribas Financial Markets raised its stake in Quanta Services, Inc. (NYSE:PWR) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,580 shares of the construction company’s stock after purchasing an additional 27,590 shares during the period. BNP Paribas Financial Markets owned 0.15% of Quanta Services worth $67,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Versor Investments LP acquired a new position in shares of Quanta Services in the third quarter valued at about $406,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after acquiring an additional 1,981 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares in the last quarter. Czech National Bank grew its stake in shares of Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PWR. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Down 0.8 %

PWR stock opened at $343.83 on Thursday. The stock has a market capitalization of $50.75 billion, a P/E ratio of 63.44 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $350.19. The firm has a 50-day moving average price of $312.12 and a 200-day moving average price of $281.41.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.