Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,671 shares of the construction company's stock after purchasing an additional 4,172 shares during the period. Quanta Services comprises 2.5% of Sierra Summit Advisors LLC's portfolio, making the stock its 12th biggest holding. Sierra Summit Advisors LLC's holdings in Quanta Services were worth $12,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Polymer Capital Management HK LTD bought a new stake in Quanta Services during the fourth quarter valued at about $1,264,000. Aster Capital Management DIFC Ltd grew its stake in shares of Quanta Services by 74.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 305 shares of the construction company's stock valued at $96,000 after acquiring an additional 130 shares during the period. Waterloo Capital L.P. increased its holdings in Quanta Services by 5.1% in the 4th quarter. Waterloo Capital L.P. now owns 5,711 shares of the construction company's stock worth $1,805,000 after acquiring an additional 278 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Quanta Services by 0.5% in the fourth quarter. Russell Investments Group Ltd. now owns 69,126 shares of the construction company's stock worth $21,926,000 after purchasing an additional 378 shares in the last quarter. Finally, Hurley Capital LLC bought a new stake in Quanta Services during the fourth quarter valued at about $75,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 2.7 %

NYSE:PWR traded up $7.20 during mid-day trading on Friday, hitting $269.90. 1,098,254 shares of the company's stock traded hands, compared to its average volume of 1,705,356. The company has a fifty day moving average of $267.21 and a 200 day moving average of $302.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The company has a market capitalization of $40.00 billion, a P/E ratio of 44.76, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Piper Sandler started coverage on Quanta Services in a report on Tuesday. They issued an "overweight" rating and a $286.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. B. Riley reiterated a "neutral" rating and set a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Finally, Citigroup lowered their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price 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.