Dorsey Wright & Associates Acquires 1,834 Shares of Quanta Services, Inc. (NYSE:PWR)

Dorsey Wright & Associates grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,302 shares of the construction company's stock after buying an additional 1,834 shares during the quarter. Quanta Services accounts for about 1.5% of Dorsey Wright & Associates' portfolio, making the stock its 13th largest holding. Dorsey Wright & Associates' holdings in Quanta Services were worth $5,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Norges Bank acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $544,937,000. Capital World Investors increased its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. GAMMA Investing LLC increased its position in Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Bank of America Corp DE increased its position in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the subject of a number of research analyst reports. B. Riley upped their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. UBS Group upped their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday. Argus set a $375.00 price target on shares of Quanta Services in a research report on Monday, May 5th. Evercore ISI upped their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $362.25.

Quanta Services Stock Up 3.6%

NYSE PWR traded up $14.84 on Friday, hitting $422.06. 1,370,755 shares of the company were exchanged, compared to its average volume of 1,100,229. The company has a market cap of $62.58 billion, a PE ratio of 68.07, a PEG ratio of 2.90 and a beta of 1.08. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock has a fifty day moving average of $368.62 and a 200-day moving average of $315.83. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

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. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services's revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.09%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.45%.

Quanta Services 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.