Sycomore Asset Management Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Sycomore Asset Management raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,325 shares of the construction company’s stock after purchasing an additional 3,028 shares during the period. Quanta Services makes up about 1.1% of Sycomore Asset Management’s investment portfolio, making the stock its 28th largest holding. Sycomore Asset Management’s holdings in Quanta Services were worth $5,037,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PWR. GAMMA Investing LLC purchased a new position in shares of Quanta Services in the 4th quarter worth $236,000. New York State Common Retirement Fund boosted its stake in shares of Quanta Services by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 141,433 shares of the construction company’s stock worth $30,521,000 after buying an additional 17,516 shares during the last quarter. Mengis Capital Management Inc. boosted its stake in shares of Quanta Services by 4.0% in the 4th quarter. Mengis Capital Management Inc. now owns 37,580 shares of the construction company’s stock worth $8,110,000 after buying an additional 1,430 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Quanta Services by 93.2% in the 4th quarter. Jennison Associates LLC now owns 269,508 shares of the construction company’s stock worth $58,160,000 after buying an additional 130,020 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new position in shares of Quanta Services in the 4th quarter worth $57,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. TD Cowen lifted their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI started coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price on the stock. Finally, DA Davidson lifted their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.23.

Insider Buying and Selling at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $242.27, for a total value of $2,142,151.34. Following the completion of the sale, the executive vice president now owns 44,129 shares of the company’s stock, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock traded up $1.14 during trading hours on Wednesday, hitting $253.09. The stock had a trading volume of 1,027,712 shares, compared to its average volume of 924,762. The stock has a market capitalization of $37.05 billion, a price-to-earnings ratio of 50.54 and a beta of 1.11. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock’s 50-day moving average price is $244.27 and its two-hundred day moving average price is $210.41.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

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.