Quanta Services, Inc. (NYSE:PWR) Shares Bought by Bayesian Capital Management LP

Bayesian Capital Management LP grew its position in Quanta Services, Inc. (NYSE:PWR) by 129.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,244 shares of the construction company’s stock after buying an additional 2,956 shares during the quarter. Bayesian Capital Management LP’s holdings in Quanta Services were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the period. JPMorgan Chase & Co. lifted its holdings in Quanta Services by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after buying an additional 156,627 shares in the last quarter. Capital World Investors boosted its position in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after acquiring an additional 1,935,786 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter valued at $335,777,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PWR. The Goldman Sachs Group boosted their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. DA Davidson raised their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Evercore ISI boosted their price target on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Citigroup raised their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Robert W. Baird boosted their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.75.

Quanta Services Stock Performance

Shares of PWR opened at $266.94 on Wednesday. The company’s 50 day simple moving average is $266.25 and its 200-day simple moving average is $248.14. The firm has a market cap of $39.08 billion, a PE ratio of 48.74 and a beta of 1.03. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

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.