Ground Swell Capital LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Ground Swell Capital LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,906 shares of the construction company’s stock, valued at approximately $484,000. Quanta Services makes up approximately 1.0% of Ground Swell Capital LLC’s portfolio, making the stock its 22nd largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in Quanta Services in the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Quanta Services during the fourth quarter worth $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of Quanta Services during the first quarter worth $40,000. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the first quarter worth $42,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

PWR stock opened at $380.25 on Thursday. The stock has a market capitalization of $56.66 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $382.12 and its 200 day simple moving average is $321.29.

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

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. JPMorgan Chase & Co. upped their target price on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Evercore ISI raised their price objective on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Stifel Nicolaus raised their target price on Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $392.45.

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.