Ground Swell Capital LLC Takes $484,000 Position in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Ground Swell Capital LLC has made a new investment in Quanta Services, Inc. by purchasing 1,906 shares valued at approximately $484,000, making it the firm's 22nd largest position.
• Quanta Services reported a quarterly earnings per share (EPS) of $2.48, beating estimates and showing a year-over-year revenue growth of 21.1% to $6.77 billion.
• The company's stock currently has a market capitalization of $56.66 billion and is largely owned by institutional investors, with 90.49% of the stock held by them.

Ground Swell Capital LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,906 shares of the construction company's stock, valued at approximately $484,000. Quanta Services comprises about 1.0% of Ground Swell Capital LLC's portfolio, making the stock its 22nd largest position.

A number of other hedge funds also recently bought and sold shares of PWR. Vanguard Group Inc. boosted its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Capital World Investors boosted its holdings in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after acquiring an additional 506,722 shares during the period. Nuveen LLC acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $404,288,000. Finally, Northern Trust Corp lifted its holdings in shares of Quanta Services by 18.5% in the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after acquiring an additional 232,375 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.6%

Shares of PWR traded up $2.45 during midday trading on Friday, reaching $379.96. The stock had a trading volume of 1,436,415 shares, compared to its average volume of 1,312,980. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company's fifty day simple moving average is $382.86 and its two-hundred day simple moving average is $322.64. The company has a market cap of $56.62 billion, a price-to-earnings ratio of 58.82, a PEG ratio of 2.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. 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 report on Friday, May 2nd. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $392.45.

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.