Voleon Capital Management LP Acquires New Shares in Quanta Services, Inc. (NYSE:PWR)

Voleon Capital Management LP purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,937 shares of the construction company's stock, valued at approximately $1,876,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diamant Asset Management Inc. bought a new position in shares of Quanta Services during the third quarter valued at $206,000. Wilmington Savings Fund Society FSB acquired a new position in Quanta Services during the 3rd quarter worth about $1,058,000. Tidal Investments LLC increased its stake in shares of Quanta Services by 10.5% in the third quarter. Tidal Investments LLC now owns 18,779 shares of the construction company's stock valued at $5,597,000 after buying an additional 1,781 shares during the period. Synovus Financial Corp lifted its stake in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after acquiring an additional 1,830 shares during the period. Finally, Old North State Trust LLC boosted its holdings in Quanta Services by 7.3% in the third quarter. Old North State Trust LLC now owns 1,459 shares of the construction company's stock valued at $435,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Down 0.3 %

NYSE:PWR traded down $0.89 on Friday, hitting $321.04. The stock had a trading volume of 2,062,545 shares, compared to its average volume of 1,651,828. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm's fifty day simple moving average is $264.93 and its two-hundred day simple moving average is $300.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $47.60 billion, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business's revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. 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 announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. 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 payout ratio is 6.63%.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded Quanta Services from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. Finally, Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $330.80.

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.