Quanta Services, Inc. (NYSE:PWR) Stock Position Raised by Boothbay Fund Management LLC

Boothbay Fund Management LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,231 shares of the construction company’s stock after acquiring an additional 9,847 shares during the period. Boothbay Fund Management LLC’s holdings in Quanta Services were worth $11,767,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Quanta Services in the fourth quarter worth $12,572,000. Virtus ETF Advisers LLC lifted its position in Quanta Services by 6.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,671 shares of the construction company’s stock valued at $1,160,000 after purchasing an additional 222 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Quanta Services by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,347 shares of the construction company’s stock valued at $1,374,000 after purchasing an additional 127 shares during the period. Voya Investment Management LLC grew its position 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 worth $174,016,000 after purchasing an additional 373,429 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Quanta Services by 14.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 24,828 shares of the construction company’s stock valued at $7,847,000 after purchasing an additional 3,184 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Stifel Nicolaus dropped their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Six equities 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.70.

Quanta Services Stock Performance

Shares of PWR opened at $287.64 on Friday. The company has a 50-day moving average of $261.85 and a two-hundred day moving average of $300.49. The stock has a market cap of $42.65 billion, a price-to-earnings ratio of 47.70, a PEG ratio of 1.41 and a beta of 1.04. 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, Inc. has a one year low of $227.08 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s payout ratio is presently 6.63%.

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.