SCP Investment LP Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Key Points

• SCP Investment LP has acquired 3,800 shares of Quanta Services, valued at approximately $966,000, making it the firm's 22nd largest holding.
• Analysts have mixed views on Quanta Services, with target prices ranging from $324.00 to $411.00, and a consensus rating of "Moderate Buy."
• Quanta Services recently reported a 21.1% increase in quarterly revenue year-over-year, with earnings per share of $2.48, exceeding analysts' expectations.

SCP Investment LP purchased 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 SEC. The firm purchased 3,800 shares of the construction company's stock, valued at approximately $966,000. Quanta Services makes up about 0.8% of SCP Investment LP's investment portfolio, making the stock its 22nd biggest holding.

A number of other large investors have also made changes to their positions in PWR. Brighton Jones LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $298,000. World Investment Advisors bought a new stake in shares of Quanta Services in the fourth quarter worth $229,000. ExodusPoint Capital Management LP bought a new stake in shares of Quanta Services in the fourth quarter worth $2,541,000. Prudential PLC boosted its holdings in Quanta Services by 20.2% in the fourth quarter. Prudential PLC now owns 4,966 shares of the construction company's stock worth $1,570,000 after purchasing an additional 834 shares during the period. Finally, Smith Moore & CO. acquired a new position in shares of Quanta Services during the fourth quarter valued at $206,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PWR shares. Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a report on Wednesday, July 2nd. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. TD Cowen raised their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $390.18.

Quanta Services Trading Down 1.4%

Shares of NYSE PWR traded down $5.60 during midday trading on Tuesday, reaching $388.02. 213,141 shares of the stock were exchanged, compared to its average volume of 1,438,844. The stock has a market capitalization of $57.53 billion, a P/E ratio of 60.07, a PEG ratio of 2.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a 50 day simple moving average of $376.54 and a 200 day simple moving average of $319.21.

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 (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's payout ratio is 6.19%.

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.