Otter Creek Advisors LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,270 shares of the construction company’s stock after selling 1,294 shares during the quarter. Quanta Services makes up about 2.0% of Otter Creek Advisors LLC’s portfolio, making the stock its 6th biggest holding. Otter Creek Advisors LLC’s holdings in Quanta Services were worth $5,038,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of PWR. Allspring Global Investments Holdings LLC purchased a new stake in Quanta Services in the fourth quarter valued at approximately $12,754,000. Commonwealth Equity Services LLC boosted its stake in Quanta Services by 29.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,408 shares of the construction company’s stock worth $2,225,000 after buying an additional 4,440 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of Quanta Services in the 4th quarter worth about $2,600,000. CWM LLC purchased a new position in shares of Quanta Services in the 4th quarter worth about $187,000. Finally, Xponance Inc. raised its holdings in shares of Quanta Services by 29.5% during the 4th quarter. Xponance Inc. now owns 8,816 shares of the construction company’s stock valued at $1,011,000 after buying an additional 2,009 shares during the period. Hedge funds and other institutional investors own 87.16% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on PWR shares. Argus assumed coverage on Quanta Services in a research report on Friday, July 15th. They issued a “buy” rating and a $150.00 target price for the company. UBS Group raised Quanta Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $156.00 in a research note on Monday, June 13th. B. Riley boosted their target price on Quanta Services from $129.00 to $138.00 in a research report on Friday, May 6th. KeyCorp lifted their price target on Quanta Services from $129.00 to $156.00 in a report on Thursday, April 14th. Finally, Credit Suisse Group set a $157.00 target price on Quanta Services in a research note on Tuesday, July 19th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.31.
Insider Buying and Selling
Quanta Services Price Performance
Shares of PWR stock traded up $3.50 during trading hours on Friday, hitting $136.91. The company had a trading volume of 1,287,213 shares, compared to its average volume of 1,183,450. Quanta Services, Inc. has a 12 month low of $90.09 and a 12 month high of $146.84. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 44.45 and a beta of 1.10. The firm’s fifty day moving average is $128.11 and its 200 day moving average is $120.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.48 and a current ratio of 1.56.
Quanta Services (NYSE:PWR – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The construction company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.16. Quanta Services had a return on equity of 15.97% and a net margin of 2.92%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue was up 41.1% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services, Inc. will post 5.79 EPS for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.20%. Quanta Services’s dividend payout ratio (DPR) is presently 9.09%.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
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