18,825 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Soros Capital Management LLC

Soros Capital Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, HoldingsChannel.com reports. The firm bought 18,825 shares of the construction company’s stock, valued at approximately $5,613,000. Quanta Services comprises about 1.4% of Soros Capital Management LLC’s portfolio, making the stock its 25th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Tower Wealth Partners Inc. boosted its holdings in shares of Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after purchasing an additional 34 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after purchasing an additional 35 shares during the last quarter. Terra Nova Asset Management LLC boosted its holdings in shares of Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after purchasing an additional 38 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after purchasing an additional 38 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 1.1 %

NYSE PWR opened at $346.54 on Wednesday. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $350.19. The company has a 50-day simple moving average of $310.67 and a 200-day simple moving average of $280.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $51.15 billion, a PE ratio of 63.94 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is presently 6.64%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.27.

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.