Bridgewater Advisors Inc. Buys Shares of 2,947 Quanta Services, Inc. (NYSE:PWR)

Bridgewater Advisors Inc. bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,947 shares of the construction company's stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth about $298,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Quanta Services during the fourth quarter worth about $495,000. Natixis Advisors LLC lifted its stake in Quanta Services by 5.4% during the fourth quarter. Natixis Advisors LLC now owns 90,421 shares of the construction company's stock worth $28,578,000 after purchasing an additional 4,671 shares during the last quarter. Harbour Investments Inc. lifted its stake in Quanta Services by 1.6% during the fourth quarter. Harbour Investments Inc. now owns 4,283 shares of the construction company's stock worth $1,354,000 after purchasing an additional 68 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in Quanta Services by 16.7% during the fourth quarter. Cibc World Markets Corp now owns 23,291 shares of the construction company's stock worth $7,361,000 after purchasing an additional 3,333 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PWR shares. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research note on Wednesday, July 2nd. TD Cowen boosted their target price on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. B. Riley boosted their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and upped their price target for the company from $352.00 to $400.00 in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.75.

Quanta Services Price Performance

Shares of PWR stock traded up $5.08 during trading hours on Friday, hitting $402.98. The stock had a trading volume of 370,537 shares, compared to its average volume of 1,433,086. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $405.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock's 50-day moving average price is $360.62 and its two-hundred day moving average price is $312.29. The stock has a market capitalization of $59.75 billion, a price-to-earnings ratio of 65.00, a PEG ratio of 3.03 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business's revenue was up 23.9% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's dividend payout ratio is currently 6.45%.

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.