Quanta Services, Inc. (NYSE:PWR) Stake Boosted by Boothbay Fund Management LLC

Boothbay Fund Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 36.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 37,231 shares of the construction company’s stock after buying an additional 9,847 shares during the quarter. Boothbay Fund Management LLC’s holdings in Quanta Services were worth $11,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Quanta Services during the fourth quarter valued at approximately $12,572,000. Virtus ETF Advisers LLC lifted its position in shares of Quanta Services by 6.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,671 shares of the construction company’s stock worth $1,160,000 after buying an additional 222 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Quanta Services by 3.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,347 shares of the construction company’s stock valued at $1,374,000 after acquiring an additional 127 shares in the last quarter. Voya Investment Management LLC grew its holdings in Quanta Services by 210.8% during the fourth quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock valued at $174,016,000 after purchasing an additional 373,429 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in Quanta Services by 14.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,828 shares of the construction company’s stock valued at $7,847,000 after buying an additional 3,184 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PWR. Stifel Nicolaus lowered their price target on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Citigroup decreased their target price on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, B. Riley restated a “neutral” rating and set a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.70.

Quanta Services Trading Up 2.0 %

Shares of PWR stock opened at $287.64 on Friday. The company has a market capitalization of $42.65 billion, a P/E ratio of 47.70, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $261.85 and a 200 day moving average price of $300.49.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.63%.

Quanta Services Profile

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.