Fifth Third Bancorp Buys 1,282 Shares of Quanta Services, Inc. $PWR

Fifth Third Bancorp grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund 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 reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Quanta Services by 4.7% during the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after purchasing an additional 296,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Quanta Services by 3,657.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 221,485 shares of the construction company’s stock worth $121,600,000 after purchasing an additional 215,591 shares in the last quarter. Corient Private Wealth LP increased its position in Quanta Services by 731.3% in the 2nd quarter. Corient Private Wealth LP now owns 210,091 shares of the construction company’s stock valued at $151,273,000 after acquiring an additional 184,819 shares in the last quarter. Bank of America Corp DE grew its holdings in Quanta Services by 5.4% during the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after acquiring an additional 175,184 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Quanta Services by 18.3% in the 1st quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock valued at $551,170,000 after acquiring an additional 155,529 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. Deutsche Bank cut shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Benchmark lowered shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. Jefferies Financial Group restated a “buy” rating and issued a $760.00 target price on shares of Quanta Services in a research note on Monday, November 2nd. Finally, Argus set a $800.00 target price on Quanta Services in a report on Wednesday, August 5th. One equities 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $763.31.

Quanta Services Price Performance

PWR stock opened at $601.48 on Friday. The firm’s fifty day moving average is $627.61 and its 200 day moving average is $629.55. Quanta Services, Inc. has a 52 week low of $408.36 and a 52 week high of $788.75. The firm has a market cap of $90.63 billion, a P/E ratio of 54.48, a P/E/G 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.

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

Quanta Services Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is 3.99%.

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.