Gotham Asset Management LLC Buys 3,095 Shares of Quanta Services, Inc. (NYSE:PWR)

Gotham Asset Management LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 16,451 shares of the construction company’s stock after acquiring an additional 3,095 shares during the period. Gotham Asset Management LLC’s holdings in Quanta Services were worth $5,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Greenvale Capital LLP bought a new stake in shares of Quanta Services during the 4th quarter valued at approximately $50,568,000. Focus Partners Wealth grew its holdings in Quanta Services by 36.9% during the 4th quarter. Focus Partners Wealth now owns 26,454 shares of the construction company’s stock worth $8,361,000 after acquiring an additional 7,133 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Quanta Services by 12.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 61,126 shares of the construction company’s stock worth $19,319,000 after acquiring an additional 6,958 shares during the last quarter. Ethic Inc. grew its holdings in Quanta Services by 14.0% during the 4th quarter. Ethic Inc. now owns 28,124 shares of the construction company’s stock worth $8,889,000 after acquiring an additional 3,452 shares during the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in Quanta Services by 6.8% during the 4th quarter. First Manhattan CO. LLC. now owns 1,305 shares of the construction company’s stock worth $412,000 after acquiring an additional 83 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 3.5%

Quanta Services stock opened at $344.56 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.30 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 firm’s fifty day moving average is $275.22 and its 200 day moving average is $301.05. The company has a market capitalization of $51.09 billion, a PE ratio of 57.14, a PEG ratio of 1.41 and a beta of 1.02.

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

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Piper Sandler set a $360.00 target price on shares of Quanta Services and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Evercore ISI boosted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $344.35.

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.