Sycomore Asset Management Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Sycomore Asset Management lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,455 shares of the construction company’s stock after acquiring an additional 1,910 shares during the period. Sycomore Asset Management’s holdings in Quanta Services were worth $5,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PWR. Vanguard Group Inc. grew its position in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after acquiring an additional 1,981 shares in the last quarter. Cetera Investment Advisers raised its position in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares in the last quarter. Czech National Bank grew its holdings in Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after purchasing an additional 2,264 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after purchasing an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PWR. 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, August 2nd. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Wolfe Research began coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Down 0.1 %

Shares of PWR stock traded down $0.49 on Thursday, reaching $326.39. 157,850 shares of the company’s stock traded hands, compared to its average volume of 893,553. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $335.00. 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 company has a market capitalization of $48.18 billion, a P/E ratio of 60.36 and a beta of 1.01. The business’s 50 day moving average price is $298.84 and its two-hundred day moving average price is $276.79.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.