GAMMA Investing LLC Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

GAMMA Investing LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,265 shares of the construction company’s stock after purchasing an additional 170 shares during the quarter. GAMMA Investing LLC’s holdings in Quanta Services were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Truist Financial Corp raised its stake in Quanta Services by 2.2% in the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after buying an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC grew its position in Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the last quarter. Vanguard Group Inc. increased its stake in Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after buying an additional 53,535 shares during the last quarter. Finally, Saxon Interests Inc. purchased a new stake in shares of Quanta Services during the fourth quarter valued at $1,352,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on PWR shares. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Robert W. Baird raised their target price on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. DA Davidson upped their price target 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. Finally, TD Cowen lifted their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $268.85.

Quanta Services Stock Up 1.7 %

Shares of PWR opened at $281.20 on Thursday. The firm has a market cap of $41.16 billion, a P/E ratio of 54.50 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. The stock’s 50 day moving average is $266.05 and its two-hundred day moving average is $237.21. 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 released its quarterly earnings results 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. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. Analysts predict that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 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.