Czech National Bank Increases Share Position In Quanta Services, Inc. (NYSE:PWR)

VaselineOctober 6, 2024

0 5 minutes read

Czech National Bank grew its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,012 shares of the construction company’s stock after acquiring an additional 2,185 shares during the period. Czech National Bank’s holdings in Quanta Services were worth $8,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Rafferty Asset Management LLC raised its position in Quanta Services by 5.6% in the fourth quarter. Rafferty Asset Management LLC now owns 12,186 shares of the construction company’s stock worth $2,630,000 after acquiring an additional 642 shares during the period. CIBC Private Wealth Group LLC grew its position in Quanta Services by 16.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,017 shares of the construction company’s stock worth $651,000 after acquiring an additional 427 shares during the period. Tower Research Capital LLC TRC raised its position in Quanta Services by 88.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,463 shares of the construction company’s stock worth $3,984,000 after acquiring an additional 8,644 shares during the period. Cibc World Markets Corp grew its position in Quanta Services by 133.3% in the fourth quarter. Cibc World Markets Corp now owns 18,695 shares of the construction company’s stock worth $4,034,000 after acquiring an additional 10,681 shares during the period. Finally, Vinva Investment Management Ltd purchased a new position in Quanta Services in the fourth quarter valued at about $1,095,000. 90.49% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

Several brokerages have recently weighed in on PWR. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup boosted their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.23, according to MarketBeat.com.

Want more great investment ideas?

Read the latest stock analysis on PWR

Insider activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in ownership of the shares. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a decrease of 0.00 % in the stock holding. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last quarter. 1.10% of the stock is owned by insiders.

Quanta Services stocks rose 2.5%

Shares of NYSE PWR traded up $7.32 during mid-day trading on Friday, hitting $305.72. The company had a trading volume of 619,574 shares, compared to its average volume of 909,987. The company has a market cap of $44.75 billion, a PE ratio of 59.25 and a beta of 1.01. The company’s 50-day simple moving average is $270.34, and its 200-day simple moving average is $265.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30, and a quick ratio of 1.25. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50.

Quanta Services (NYSE:PWR – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s revenue for the quarter was up 10.8% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $1.47 per share. On average, analysts estimate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. This represents an annualized dividend of $0.36 and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’ dividend payout ratio (DPR) is currently 6.98%.

About Quanta Services

(Free report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utilities, 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, acquisition, construction, modernization, repair and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance and modernization of electricity infrastructure projects; the installation of smart grid technologies on electricity grids; and the design, installation, maintenance and repair of commercial and industrial wiring.