Quanta Services, Inc. $PWR Stock: IPG Investment Advisors LLC Increases Position

IPG Investment Advisors LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 37.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,284 shares of the construction company’s stock after acquiring an additional 894 shares during the period. IPG Investment Advisors LLC’s holdings in Quanta Services were worth $2,110,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after buying an additional 4,087 shares in the last quarter. State Street Corp boosted its holdings in Quanta Services by 4.7% in the second quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after acquiring an additional 296,893 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Quanta Services in the second quarter worth about $1,066,000. Envestnet Asset Management Inc. grew its stake in shares of Quanta Services by 11.9% during the second quarter. Envestnet Asset Management Inc. now owns 225,059 shares of the construction company’s stock worth $162,051,000 after acquiring an additional 23,850 shares during the last quarter. Finally, Waverly Advisors LLC grew its stake in shares of Quanta Services by 3,275.5% during the second quarter. Waverly Advisors LLC now owns 62,953 shares of the construction company’s stock worth $45,329,000 after acquiring an additional 61,088 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $656.13 on Wednesday. Quanta Services, Inc. has a 12 month low of $408.36 and a 12 month high of $788.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The business has a 50 day simple moving average of $633.15 and a two-hundred day simple moving average of $625.14. The stock has a market capitalization of $98.87 billion, a P/E ratio of 59.43, a PEG ratio of 1.62 and a beta of 1.29.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $1.04. The company had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. Quanta Services’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.33 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 16.25 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 3.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PWR shares. Piper Sandler decreased their price objective on shares of Quanta Services from $731.00 to $714.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Zacks Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $862.00 target price on shares of Quanta Services in a research report on Monday, October 5th. Argus set a $800.00 price target on shares of Quanta Services in a research note on Wednesday, August 5th. Finally, Mizuho set a $684.00 price target on shares of Quanta Services in a report on Wednesday, October 7th. Twenty-three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $763.81.

Quanta Services Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.