Zweig DiMenna Associates LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Zweig DiMenna Associates LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,106 shares of the construction company’s stock after buying an additional 7,850 shares during the quarter. Quanta Services makes up approximately 2.2% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 12th biggest holding. Zweig DiMenna Associates LLC’s holdings in Quanta Services were worth $21,498,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. grew its stake in Quanta Services by 16.8% in the third quarter. Values First Advisors Inc. now owns 1,399 shares of the construction company’s stock valued at $417,000 after purchasing an additional 201 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Quanta Services by 10.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock valued at $1,595,000 after buying an additional 526 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Quanta Services by 1.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,663 shares of the construction company’s stock worth $8,844,000 after buying an additional 534 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of Quanta Services by 486,600.0% during the 3rd quarter. Bogart Wealth LLC now owns 14,601 shares of the construction company’s stock worth $4,353,000 after acquiring an additional 14,598 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Quanta Services by 39.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 16,780 shares of the construction company’s stock valued at $5,003,000 after acquiring an additional 4,786 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several analyst reports. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Jefferies Financial Group began coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Truist Financial boosted their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Northland Securities increased their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. 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 report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.07.

Quanta Services Trading Up 1.1 %

Shares of Quanta Services stock opened at $309.93 on Friday. The stock has a market cap of $45.66 billion, a PE ratio of 58.48 and a beta of 1.01. The firm has a fifty day moving average price of $285.59 and a 200 day moving average price of $270.48. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.79%.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. Company insiders own 1.10% of the company’s stock.

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.