Quanta Services, Inc. (NYSE:PWR) Stock Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 48.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,876 shares of the construction company’s stock after acquiring an additional 611 shares during the period. GAMMA Investing LLC’s holdings in Quanta Services were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in Quanta Services during the 1st quarter valued at $25,000. Private Ocean LLC acquired a new position in Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services in the first quarter worth about $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services in the 1st quarter valued at about $26,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Quanta Services during the 4th quarter valued at about $34,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 5.5 %

PWR stock traded down $13.96 during midday trading on Friday, reaching $240.92. The company had a trading volume of 1,787,626 shares, compared to its average volume of 1,038,446. The company has a 50 day moving average of $264.85 and a two-hundred day moving average of $249.25. The company has a market capitalization of $35.27 billion, a P/E ratio of 46.69 and a beta of 1.03. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a current ratio of 1.30, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. 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 0.15%. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Evercore ISI boosted their target price 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 increased their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Argus lifted their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. B. Riley upped their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday. Finally, Truist Financial reissued a “buy” rating and issued a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.00.

Quanta Services Company 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.