Zimmer Partners LP Buys 9,300 Shares of Quanta Services, Inc. (NYSE:PWR)

Zimmer Partners LP lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,300 shares of the construction company's stock after buying an additional 9,300 shares during the period. Zimmer Partners LP's holdings in Quanta Services were worth $14,001,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its stake in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after buying an additional 2,184 shares during the period. Allstate Corp acquired a new stake in Quanta Services during the fourth quarter valued at approximately $1,357,000. SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $1,754,000. Lebenthal Global Advisors LLC boosted its holdings in Quanta Services by 10.7% during the fourth quarter. Lebenthal Global Advisors LLC now owns 8,627 shares of the construction company's stock valued at $2,727,000 after purchasing an additional 832 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $298,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

PWR stock opened at $344.54 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a 50 day moving average price of $283.12 and a 200 day moving average price of $301.96. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock has a market capitalization of $51.08 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the previous year, the company posted $1.41 EPS. Quanta Services's revenue was up 23.9% on a year-over-year basis. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWR. The Goldman Sachs Group decreased their price objective on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. DA Davidson lifted their price objective on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $344.35.

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.

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