8,865 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Woodline Partners LP

Woodline Partners LP acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,865 shares of the construction company's stock, valued at approximately $2,802,000.

Several other hedge funds have also recently made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the 4th quarter worth about $25,000. Webster Bank N. A. grew its holdings in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the period. Quarry LP bought a new position in shares of Quanta Services in the 4th quarter worth approximately $26,000. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. B. Riley upped their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup reduced their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $344.85.

Quanta Services Price Performance

NYSE:PWR traded down $2.08 during trading hours on Wednesday, reaching $340.27. The stock had a trading volume of 666,016 shares, compared to its average volume of 1,569,531. The stock has a market capitalization of $50.45 billion, a PE ratio of 56.43, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The company has a 50 day moving average price of $292.02 and a two-hundred day moving average price of $302.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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

Quanta Services Announces Dividend

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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Quanta Services Company 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.