Stephens Inc. AR purchased a new position in shares of Quanta Services Inc (NYSE:PWR) in the first quarter, Holdings Channel reports. The fund purchased 7,911 shares of the construction company’s stock, valued at approximately $299,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc boosted its position in Quanta Services by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 15,472,260 shares of the construction company’s stock worth $516,464,000 after acquiring an additional 139,596 shares during the period. BlackRock Inc. boosted its position in Quanta Services by 2.4% during the 4th quarter. BlackRock Inc. now owns 8,971,475 shares of the construction company’s stock worth $270,042,000 after acquiring an additional 207,321 shares during the period. Victory Capital Management Inc. boosted its position in Quanta Services by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,612,780 shares of the construction company’s stock worth $199,045,000 after acquiring an additional 396,564 shares during the period. Peconic Partners LLC boosted its position in Quanta Services by 20.1% during the 4th quarter. Peconic Partners LLC now owns 3,690,373 shares of the construction company’s stock worth $111,080,000 after acquiring an additional 618,459 shares during the period. Finally, Millennium Management LLC boosted its position in Quanta Services by 14.7% during the 4th quarter. Millennium Management LLC now owns 2,977,495 shares of the construction company’s stock worth $89,623,000 after acquiring an additional 380,948 shares during the period. Institutional investors own 84.87% of the company’s stock.

Shares of Quanta Services stock opened at $35.14 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.99 billion, a PE ratio of 13.89 and a beta of 1.07. Quanta Services Inc has a fifty-two week low of $27.90 and a fifty-two week high of $41.00.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.13. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.65 billion. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Equities analysts anticipate that Quanta Services Inc will post 3.34 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Quanta Services’s dividend payout ratio (DPR) is 6.32%.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price target for the company in a research report on Monday, February 25th. DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Citigroup set a $47.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, B. Riley reiterated a “buy” rating and set a $47.00 price target (down previously from $56.00) on shares of Quanta Services in a research report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $42.80.

In other news, EVP Donald Wayne sold 1,295 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.09, for a total value of $46,736.55. Following the completion of the sale, the executive vice president now owns 30,054 shares in the company, valued at $1,084,648.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.63, for a total value of $146,520.00. Following the completion of the sale, the director now owns 8,953 shares of the company’s stock, valued at approximately $327,948.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,295 shares of company stock valued at $4,193,257. Insiders own 1.20% of the company’s stock.

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Quanta Services Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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