Otter Creek Advisors LLC Has $4.70 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Otter Creek Advisors LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 79.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,508 shares of the construction company’s stock after buying an additional 8,174 shares during the quarter. Quanta Services comprises approximately 3.1% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Otter Creek Advisors LLC’s holdings in Quanta Services were worth $4,703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Nomura Holdings Inc. bought a new position in shares of Quanta Services in the fourth quarter worth $631,000. Wellington Management Group LLP increased its holdings in Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares during the period. Vanguard Group Inc. raised its position in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after buying an additional 191,334 shares in the last quarter. Allen Investment Management LLC lifted its holdings in shares of Quanta Services by 1,418.0% during the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after acquiring an additional 31,196 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after acquiring an additional 1,052,496 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

PWR stock opened at $247.92 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company’s 50-day moving average is $259.33 and its 200-day moving average is $259.18. The stock has a market capitalization of $36.29 billion, a PE ratio of 48.05 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.78 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PWR shares. Citigroup raised their price target on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Northland Securities upped their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday. They set a “hold” rating and a $256.00 target price for the company. Finally, TD Cowen boosted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Quanta Services Profile

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.