3,000 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Viking Fund Management LLC

Viking Fund Management LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the construction company's stock, valued at approximately $763,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Commonwealth Financial Services LLC boosted its stake in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after buying an additional 29 shares during the period. Larson Financial Group LLC raised its holdings in Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares in the last quarter. New Republic Capital LLC lifted its stake in Quanta Services by 4.8% in the fourth quarter. New Republic Capital LLC now owns 746 shares of the construction company's stock worth $236,000 after acquiring an additional 34 shares during the last quarter. TBH Global Asset Management LLC grew its holdings in Quanta Services by 0.7% during the 4th quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company's stock worth $1,566,000 after acquiring an additional 34 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in shares of Quanta Services by 7.9% in the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock valued at $146,000 after purchasing an additional 34 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. TD Cowen boosted their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Argus set a $375.00 target price on Quanta Services in a research report on Monday, May 5th. The Goldman Sachs Group boosted their target price on Quanta Services from $364.00 to $414.00 and gave the stock a "buy" rating in a research note on Wednesday. DA Davidson increased their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.35.

Quanta Services Stock Performance

Quanta Services stock traded up $0.49 during mid-day trading on Thursday, reaching $359.60. 877,024 shares of the company were exchanged, compared to its average volume of 1,538,336. The firm has a market cap of $53.32 billion, a PE ratio of 59.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. 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 firm's 50-day simple moving average is $301.84 and its two-hundred day simple moving average is $304.01. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Quanta Services's quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 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.