SCP Investment LP Buys Shares of 3,800 Quanta Services, Inc. (NYSE:PWR)

SCP Investment LP bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,800 shares of the construction company’s stock, valued at approximately $966,000. Quanta Services accounts for about 0.8% of SCP Investment LP’s portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PWR. Banque Transatlantique SA acquired a new position in Quanta Services in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Quanta Services during the first quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora bought a new stake in shares of Quanta Services during the first quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Quanta Services during the first quarter valued at approximately $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 2.7%

NYSE PWR opened at $395.18 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market cap of $58.59 billion, a price-to-earnings ratio of 61.17, a PEG ratio of 2.72 and a beta of 1.10. The firm’s 50 day moving average price is $375.39 and its two-hundred day moving average price is $318.93.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the company posted $1.90 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services’s payout ratio is presently 6.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PWR. Seaport Res Ptn raised Quanta Services to a “hold” rating in a report on Thursday, July 10th. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a report on Wednesday, July 2nd. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. UBS Group lifted their price target on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $379.32.

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.