Greenvale Capital LLP Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Greenvale Capital LLP acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 160,000 shares of the construction company's stock, valued at approximately $50,568,000. Quanta Services makes up 3.7% of Greenvale Capital LLP's holdings, making the stock its 11th biggest holding. Greenvale Capital LLP owned 0.11% of Quanta Services at the end of the most recent quarter.

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

Quanta Services Trading Down 0.1 %

Quanta Services stock opened at $326.00 on Friday. The company's fifty day moving average price is $271.55 and its two-hundred day moving average price is $300.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a market capitalization of $48.33 billion, a price-to-earnings ratio of 54.06, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during 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%. The business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. On average, analysts forecast 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 was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.45%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. B. Riley boosted their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Citigroup lowered their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Piper Sandler set a $360.00 target price on Quanta Services and gave the stock an "overweight" rating in a report on Tuesday. Finally, DA Davidson upped their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.