Ground Swell Capital LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Ground Swell Capital LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,906 shares of the construction company’s stock, valued at approximately $484,000. Quanta Services accounts for about 1.0% of Ground Swell Capital LLC’s holdings, making the stock its 22nd largest holding.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Capital World Investors lifted its stake in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Bank of America Corp DE lifted its stake in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Nuveen LLC purchased a new position in shares of Quanta Services during the first quarter worth approximately $404,288,000. Finally, Northern Trust Corp increased its position in shares of Quanta Services by 18.5% during the fourth quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company’s stock worth $470,735,000 after acquiring an additional 232,375 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Citigroup lifted their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Finally, Evercore ISI boosted their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $392.45.

Quanta Services Stock Down 2.9%

PWR stock opened at $380.25 on Thursday. The stock has a market capitalization of $56.66 billion, a P/E ratio of 58.86, a P/E/G ratio of 2.33 and a beta of 1.10. The firm has a 50-day simple moving average of $382.12 and a 200-day simple moving average of $321.29. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.19%.

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.