Zweig DiMenna Associates LLC Increases Position in Quanta Services, Inc. (NYSE:PWR)

Zweig DiMenna Associates LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 21.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 87,600 shares of the construction company’s stock after purchasing an additional 15,494 shares during the period. Quanta Services accounts for 2.1% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 10th biggest position. Zweig DiMenna Associates LLC’s holdings in Quanta Services were worth $27,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the third quarter valued at about $31,000. Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services during the third quarter worth about $41,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PWR. Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, 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 research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Trading Up 0.7 %

NYSE:PWR opened at $357.25 on Friday. 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 stock has a market capitalization of $52.73 billion, a price-to-earnings ratio of 65.91 and a beta of 1.06. The firm has a fifty day simple moving average of $330.71 and a two-hundred day simple moving average of $298.51. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

Quanta Services Company 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.