Boothbay Fund Management LLC Increases Position in Quanta Services, Inc. (NYSE:PWR)

Boothbay Fund Management LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,231 shares of the construction company's stock after purchasing an additional 9,847 shares during the period. Boothbay Fund Management LLC's holdings in Quanta Services were worth $11,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Geneos Wealth Management Inc. grew its holdings in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after buying an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its position in shares of Quanta Services by 2.6% during the fourth 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. HB Wealth Management LLC increased its position in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after buying an additional 31 shares during the period. Moody Lynn & Lieberson LLC increased its position in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after buying an additional 32 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after buying an additional 33 shares during the period. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PWR shares. Truist Financial decreased their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Roth Capital raised Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Piper Sandler assumed coverage on Quanta Services in a report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price objective for the company. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price objective for the company. Finally, Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $321.70.

Quanta Services Stock Performance

Quanta Services stock traded up $33.18 during midday trading on Thursday, reaching $325.87. 1,980,489 shares of the company traded hands, compared to its average volume of 1,628,856. The firm has a market capitalization of $48.31 billion, a price-to-earnings ratio of 54.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The business has a 50 day moving average of $262.54 and a two-hundred day moving average of $300.16. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. 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 (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given 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 (DPR) is 6.63%.

About Quanta Services

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.