Cinctive Capital Management LP Has $6.07 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cinctive Capital Management LP cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 51.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,220 shares of the construction company's stock after selling 20,521 shares during the quarter. Cinctive Capital Management LP's holdings in Quanta Services were worth $6,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Kestra Private Wealth Services LLC lifted its stake in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. lifted its position in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock valued at $2,148,000 after purchasing an additional 1,830 shares during the period. Allstate Corp bought a new position in Quanta Services in the 4th quarter worth about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock valued at $5,554,000 after purchasing an additional 793 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 1.0 %

NYSE:PWR traded up $2.41 during trading hours on Monday, hitting $241.88. 966,181 shares of the stock traded hands, compared to its average volume of 1,690,899. The firm has a 50 day moving average price of $273.15 and a 200 day moving average price of $304.43. The firm has a market cap of $35.85 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. 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 announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services's payout ratio is presently 6.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. B. Riley restated a "neutral" rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Finally, Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $326.79.

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.