Contravisory Investment Management Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,100 shares of the construction company’s stock after purchasing an additional 98 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Quanta Services were worth $1,002,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. boosted its stake in shares of Quanta Services by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after purchasing an additional 182,092 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Quanta Services by 9.0% in the 4th quarter. JPMorgan Chase & Co. now owns 6,055,835 shares of the construction company’s stock valued at $862,956,000 after acquiring an additional 501,131 shares during the period. FMR LLC raised its position in shares of Quanta Services by 19.7% in the 1st quarter. FMR LLC now owns 4,905,283 shares of the construction company’s stock valued at $817,416,000 after acquiring an additional 806,157 shares during the period. State Street Corp raised its position in shares of Quanta Services by 0.4% in the 1st quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock valued at $626,204,000 after acquiring an additional 20,702 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Quanta Services by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock worth $502,997,000 after buying an additional 53,317 shares during the period. Institutional investors own 87.86% of the company’s stock.
Analysts Set New Price Targets
PWR has been the topic of several research analyst reports. DA Davidson raised their target price on shares of Quanta Services from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Robert W. Baird reiterated an “outperform” rating and issued a $219.00 price objective on shares of Quanta Services in a report on Thursday. Credit Suisse Group lifted their price objective on shares of Quanta Services from $201.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, August 4th. StockNews.com began coverage on shares of Quanta Services in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Citigroup lifted their price objective on shares of Quanta Services from $192.00 to $234.00 and gave the company a “buy” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.27.
Quanta Services Price Performance
PWR stock traded up $0.28 during midday trading on Monday, reaching $199.52. The company had a trading volume of 174,399 shares, compared to its average volume of 819,643. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 50.83 and a beta of 1.08. The stock has a 50 day moving average price of $203.35 and a 200-day moving average price of $183.22. Quanta Services, Inc. has a 1-year low of $123.25 and a 1-year high of $212.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.68 and a quick ratio of 1.64.
Quanta Services (NYSE:PWR – Get Free Report) last issued its earnings results on Thursday, August 3rd. The construction company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.06). The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.69 billion. Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. Equities research analysts expect that Quanta Services, Inc. will post 6.47 earnings per share for the current year.
Quanta Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, September 29th. Quanta Services’s dividend payout ratio (DPR) is currently 8.16%.
Insider Transactions at Quanta Services
In other news, EVP Donald Wayne sold 5,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $210.92, for a total transaction of $1,054,600.00. Following the sale, the executive vice president now directly owns 41,323 shares in the company, valued at $8,715,847.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.
About Quanta Services
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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