O Shaughnessy Asset Management LLC Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

O Shaughnessy Asset Management LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,301 shares of the construction company’s stock after buying an additional 1,787 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Quanta Services were worth $7,093,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Artisan Partners Limited Partnership raised its position in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares during the period. Norges Bank purchased a new stake in Quanta Services in the 4th quarter worth about $335,777,000. Public Employees Retirement Association of Colorado raised its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after purchasing an additional 1,052,496 shares during the period. Capital World Investors raised its position in Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after purchasing an additional 624,545 shares during the period. Finally, Corient Private Wealth LLC raised its position in Quanta Services by 797.6% in the 4th quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock worth $132,487,000 after purchasing an additional 545,534 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 4.8 %

Shares of PWR stock traded down $12.64 during trading hours on Wednesday, hitting $251.82. The company had a trading volume of 582,859 shares, compared to its average volume of 945,820. The company’s fifty day moving average is $267.73 and its 200 day moving average is $246.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The stock has a market capitalization of $36.86 billion, a PE ratio of 49.06 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

A number of research firms recently weighed in on PWR. Evercore ISI increased their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. DA Davidson raised their target price on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Citigroup raised their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $273.75.

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.