16,430 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Covalis Capital LLP

Covalis Capital LLP bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,430 shares of the construction company’s stock, valued at approximately $5,193,000.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. First Trust Advisors LP raised its position in Quanta Services by 54.1% in the 4th quarter. First Trust Advisors LP now owns 725,453 shares of the construction company’s stock valued at $229,279,000 after purchasing an additional 254,640 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Quanta Services by 8.7% in the fourth quarter. Forum Financial Management LP now owns 3,839 shares of the construction company’s stock valued at $1,213,000 after buying an additional 307 shares during the last quarter. Commerce Bank boosted its stake in shares of Quanta Services by 141.0% during the fourth quarter. Commerce Bank now owns 13,127 shares of the construction company’s stock worth $4,149,000 after buying an additional 7,680 shares during the period. Capital International Sarl grew its holdings in shares of Quanta Services by 25.5% during the fourth quarter. Capital International Sarl now owns 4,264 shares of the construction company’s stock worth $1,348,000 after buying an additional 867 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Quanta Services by 14.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 107,512 shares of the construction company’s stock valued at $33,994,000 after acquiring an additional 13,417 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWR. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial dropped their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $319.25.

Quanta Services Stock Performance

Shares of PWR opened at $267.47 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $263.56 and a two-hundred day moving average of $301.58. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The stock has a market cap of $39.64 billion, a P/E ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

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.