True North Advisors LLC Purchases Shares of 850 Quanta Services, Inc. (NYSE:PWR)

Key Points

• True North Advisors LLC has acquired a new stake in Quanta Services, Inc., purchasing 850 shares worth approximately $216,000 in the first quarter of the year.
• Quanta Services recently reported earnings of $2.48 per share for the last quarter, exceeding analysts' expectations, with a revenue of $6.77 billion, reflecting a 21.1% year-over-year increase.
• Research analysts have a consensus rating of "Moderate Buy" for Quanta Services stock, with a target price averaging around $392.45.

True North Advisors LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 850 shares of the construction company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Capital World Investors raised its stake in Quanta Services by 14.1% in the fourth 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 in the last quarter. GAMMA Investing LLC raised its stake in Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Bank of America Corp DE raised its stake in Quanta Services by 42.8% in 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. Jennison Associates LLC raised its stake in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after purchasing an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Quanta Services by 2.4% in the first 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 in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.9%

Shares of PWR traded up $7.43 during trading hours on Tuesday, hitting $391.55. The company had a trading volume of 858,704 shares, compared to its average volume of 1,259,859. The firm has a fifty day moving average price of $381.71 and a 200-day moving average price of $320.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 2.28 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is 6.19%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Roth Capital reaffirmed a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Argus set a $375.00 price target on shares of Quanta Services in a research report on Monday, May 5th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.