Zweig DiMenna Associates LLC Has $27.69 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Zweig DiMenna Associates LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,600 shares of the construction company’s stock after buying an additional 15,494 shares during the period. Quanta Services comprises approximately 2.1% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 10th biggest position. Zweig DiMenna Associates LLC owned approximately 0.06% of Quanta Services worth $27,686,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares in the last quarter. Electron Capital Partners LLC lifted its position in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares in the last quarter. Finally, Swedbank AB lifted its position in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PWR. Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Bank of America began coverage on shares of Quanta Services in a report on Friday. They set a “buy” rating and a $407.00 price target on the stock. UBS Group raised their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Trading Up 0.7 %

Shares of NYSE PWR opened at $357.25 on Friday. Quanta Services, Inc. has a 1-year low of $193.50 and a 1-year high of $365.88. The company has a market cap of $52.73 billion, a PE ratio of 65.91 and a beta of 1.06. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $330.71 and a two-hundred day moving average of $298.51.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. As a group, equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

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.