Hudson Bay Capital Management LP Invests $2.22 Million in Quanta Services, Inc. (NYSE:PWR)

Hudson Bay Capital Management LP purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,008 shares of the construction company’s stock, valued at approximately $2,215,000.

A number of other hedge funds also recently modified their holdings of PWR. Vanguard Group Inc. grew its holdings in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after buying an additional 68,565 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Quanta Services during the fourth quarter worth about $544,937,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PWR. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Stifel Nicolaus raised their price target on Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $344.35.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $344.56 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock has a 50 day moving average of $275.22 and a 200-day moving average of $301.05. The company has a market capitalization of $51.09 billion, a P/E ratio of 57.14, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.45%.

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.