Quadrature Capital Ltd Buys New Stake in Quanta Services, Inc. (NYSE:PWR)

Quadrature Capital Ltd acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,344 shares of the construction company’s stock, valued at approximately $1,128,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in Quanta Services in the first quarter valued at about $25,000. Private Ocean LLC bought a new position in shares of Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services in the 4th quarter worth approximately $34,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 3.2 %

NYSE:PWR traded up $7.92 during trading hours on Friday, hitting $256.73. The company had a trading volume of 642,343 shares, compared to its average volume of 1,023,924. The company has a market cap of $37.58 billion, a P/E ratio of 49.75 and a beta of 1.03. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $266.89 and a 200 day moving average of $246.82. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Sell-side analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. DA Davidson upped their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Argus increased their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, B. Riley lifted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.75.

About Quanta Services

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.