Hudson Bay Capital Management LP Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Hudson Bay Capital Management LP purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,008 shares of the construction company's stock, valued at approximately $2,215,000.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at approximately $544,937,000. Capital World Investors increased its holdings in Quanta Services by 14.1% in the 4th 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Quanta Services in the 4th quarter valued at approximately $203,068,000. Bank of America Corp DE increased its holdings in Quanta Services by 42.8% in the 4th 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 during the last quarter. Finally, Voya Investment Management LLC increased its holdings in Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after purchasing an additional 373,429 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $4.55 on Friday, reaching $344.92. 1,070,444 shares of the stock were exchanged, compared to its average volume of 1,611,328. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $281.22 and a two-hundred day moving average price of $301.74. The firm has a market capitalization of $51.14 billion, a PE ratio of 57.20, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business's revenue was up 23.9% compared to the same quarter last year. As a group, research analysts anticipate 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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

Analyst Ratings Changes

PWR has been the subject of several research reports. DA Davidson lifted their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Evercore ISI boosted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research note on Friday, May 2nd. Citigroup dropped their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Argus set a $375.00 price target on shares of Quanta Services in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $344.35.

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.