Franklin Resources Inc. Buys 41,309 Shares of Quanta Services, Inc. (NYSE:PWR)

Franklin Resources Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 970,722 shares of the construction company’s stock after purchasing an additional 41,309 shares during the quarter. Franklin Resources Inc.’s holdings in Quanta Services were worth $306,797,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services in the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR opened at $257.64 on Wednesday. The firm has a market capitalization of $38.18 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business’s 50-day moving average is $279.42 and its two-hundred day moving average is $304.87. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio is presently 6.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $326.79.

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.