Terra Alpha Investments LLC Has $1.57 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Terra Alpha Investments LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 121.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,178 shares of the construction company's stock after buying an additional 3,391 shares during the quarter. Quanta Services accounts for approximately 1.7% of Terra Alpha Investments LLC's investment portfolio, making the stock its 26th largest position. Terra Alpha Investments LLC's holdings in Quanta Services were worth $1,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Quanta Services in the 4th quarter worth about $544,937,000. Capital World Investors increased its holdings in shares of 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 period. GAMMA Investing LLC lifted its position in shares of Quanta Services by 22,475.0% in the first 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. Raymond James Financial Inc. purchased a new position in Quanta Services during the fourth quarter valued at approximately $203,068,000. Finally, Bank of America Corp DE grew its position in Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Citigroup lowered their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group lifted their target price on shares of Quanta Services from $369.00 to $413.00 and gave the company a "buy" rating in a research note on Thursday. Truist Financial cut their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Price Performance

Shares of NYSE PWR traded up $2.49 during midday trading on Thursday, reaching $358.27. 859,733 shares of the company traded hands, compared to its average volume of 1,512,317. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock's 50-day simple moving average is $312.08 and its 200-day simple moving average is $304.75. The firm has a market cap of $53.12 billion, a PE ratio of 59.41, a PEG ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the business earned $1.41 EPS. Quanta Services's revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is 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.