Covalis Capital LLP Takes $5.19 Million Position in Quanta Services, Inc. (NYSE:PWR)

Covalis Capital LLP bought a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 16,430 shares of the construction company’s stock, valued at approximately $5,193,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diamant Asset Management Inc. purchased a new stake in shares of Quanta Services in the third quarter worth about $206,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Quanta Services during the third quarter worth $1,058,000. Tidal Investments LLC grew its holdings in Quanta Services by 10.5% during the 3rd quarter. Tidal Investments LLC now owns 18,779 shares of the construction company’s stock valued at $5,597,000 after purchasing an additional 1,781 shares in the last quarter. Synovus Financial Corp boosted its position in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the last quarter. Finally, Old North State Trust LLC grew its stake in shares of Quanta Services by 7.3% during the third quarter. Old North State Trust LLC now owns 1,459 shares of the construction company’s stock valued at $435,000 after acquiring an additional 99 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $267.47 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The firm has a market capitalization of $39.64 billion, a P/E ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04. The firm’s 50 day moving average is $263.56 and its two-hundred day moving average is $301.58. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PWR shares. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.25.

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.