Jump Financial LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Jump Financial LLC bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,921 shares of the construction company's stock, valued at approximately $3,452,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $27,000. Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc increased its position in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

NYSE:PWR traded up $17.83 during trading hours on Wednesday, hitting $279.68. 661,409 shares of the company traded hands, compared to its average volume of 1,634,044. The stock has a market capitalization of $41.47 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The firm has a 50-day moving average of $262.09 and a 200 day moving average of $300.98. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is currently 6.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PWR. Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus dropped their target price 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. Piper Sandler started coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 target price on the stock. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $319.25.

Quanta Services 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.