GAMMA Investing LLC Invests $236,000 in Quanta Services, Inc. (NYSE:PWR)

GAMMA Investing LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel reports. The fund acquired 1,095 shares of the construction company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after purchasing an additional 44,141 shares in the last quarter. Morgan Stanley lifted its position in Quanta Services by 3.3% in the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after acquiring an additional 49,602 shares in the last quarter. Northern Trust Corp lifted its position in Quanta Services by 3.9% in the 3rd quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after acquiring an additional 54,268 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Quanta Services by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock valued at $264,253,000 after acquiring an additional 40,233 shares in the last quarter. Finally, UBS Group AG lifted its position in Quanta Services by 0.5% in the 3rd quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock valued at $177,284,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Evercore ISI assumed coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Finally, KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $247.67.

Insider Buying and Selling

In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 in the last 90 days. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Up 0.8 %

Shares of NYSE:PWR opened at $255.19 on Friday. The firm has a fifty day moving average price of $245.08 and a two-hundred day moving average price of $210.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The company has a market cap of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $1.54 EPS. The firm’s revenue was up 31.0% compared to the same quarter last year. Analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s payout ratio is presently 7.19%.

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.