Edgestream Partners L.P. Invests $3.43 Million in Quanta Services, Inc. (NYSE:PWR)

Edgestream Partners L.P. acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,841 shares of the construction company’s stock, valued at approximately $3,427,000.

Other hedge funds also recently modified their holdings of the company. RPG Investment Advisory LLC lifted its holdings in shares of Quanta Services by 7.3% in the 2nd quarter. RPG Investment Advisory LLC now owns 83,228 shares of the construction company’s stock worth $7,538,000 after acquiring an additional 5,631 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in Quanta Services by 9.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 199,394 shares of the construction company’s stock worth $17,543,000 after buying an additional 16,588 shares in the last quarter. Credit Suisse AG lifted its holdings in Quanta Services by 16.0% during the 1st quarter. Credit Suisse AG now owns 165,991 shares of the construction company’s stock worth $14,605,000 after buying an additional 22,951 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Quanta Services by 14.8% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 26,003 shares of the construction company’s stock worth $2,355,000 after buying an additional 3,362 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Quanta Services by 17.6% during the 1st quarter. Prudential Financial Inc. now owns 1,089,653 shares of the construction company’s stock worth $95,867,000 after buying an additional 163,198 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

In other news, Director John Michal Conaway sold 3,500 shares of the stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $89.57, for a total transaction of $313,495.00. Following the transaction, the director now directly owns 7,226 shares in the company, valued at approximately $647,232.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NYSE:PWR opened at $116.00 on Wednesday. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 31.10 and a beta of 1.25. The company has a current ratio of 1.75, a quick ratio of 1.72 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $97.29 and its two-hundred day moving average is $93.54. Quanta Services, Inc. has a 12-month low of $48.53 and a 12-month high of $117.19.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.94 billion. Quanta Services had a net margin of 4.64% and a return on equity of 13.29%. On average, equities research analysts forecast that Quanta Services, Inc. will post 4.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Quanta Services’s payout ratio is currently 7.23%.

A number of brokerages have commented on PWR. KeyCorp increased their price objective on shares of Quanta Services from $115.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, September 3rd. Citigroup increased their target price on shares of Quanta Services from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 6th. DA Davidson increased their target price on shares of Quanta Services from $95.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, September 3rd. They noted that the move was a valuation call. Cowen increased their target price on shares of Quanta Services from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, September 10th. Finally, Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Monday, August 30th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Buy” and an average price target of $105.92.

Quanta Services Company Profile

Quanta Services, Inc engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. The firm operates through the Electric Power Infrastructure Services, and Underground Utility and Infrastructure Solutions segment.

See Also: What is a growth and income fund?

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.