Second Line Capital LLC Acquires Shares of 9,733 Quanta Services, Inc. (NYSE:PWR)

Second Line Capital LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,733 shares of the construction company's stock, valued at approximately $2,902,000. Quanta Services accounts for about 0.8% of Second Line Capital LLC's portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Quanta Services during the third quarter valued at about $240,000. Brown Financial Advisors raised its holdings in Quanta Services by 6.9% during the 3rd quarter. Brown Financial Advisors now owns 3,451 shares of the construction company's stock valued at $1,029,000 after buying an additional 224 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Quanta Services by 6.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,220 shares of the construction company's stock worth $1,266,000 after acquiring an additional 257 shares in the last quarter. Geode Capital Management LLC increased its stake in Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter worth about $30,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 4.5 %

NYSE PWR traded up $14.35 during trading hours on Wednesday, reaching $334.25. 1,254,144 shares of the company's stock were exchanged, compared to its average volume of 897,111. The company's 50-day moving average is $320.62 and its two-hundred day moving average is $286.05. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $49.34 billion, a price-to-earnings ratio of 60.31 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They set an "outperform" rating and a $355.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $321.69.

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.