Versor Investments LP Acquires Shares of 1,363 Quanta Services, Inc. (NYSE:PWR)

Versor Investments LP bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,363 shares of the construction company’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $25,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $38,000. 90.49% of the stock is currently owned by institutional investors.

Insider Activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $323.87 on Friday. The firm has a market cap of $47.81 billion, a P/E ratio of 59.75 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The stock’s fifty day moving average price is $300.29 and its 200-day moving average price is $277.12.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.64%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PWR. Citigroup increased their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.