Tidal Investments LLC Has $5.60 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Tidal Investments LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,779 shares of the construction company's stock after buying an additional 1,781 shares during the quarter. Tidal Investments LLC's holdings in Quanta Services were worth $5,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. State Street Corp increased its position in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC raised its stake in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after buying an additional 46,357 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after acquiring an additional 43,715 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.4 %

Quanta Services stock traded up $1.50 during midday trading on Friday, reaching $337.60. The stock had a trading volume of 1,121,605 shares, compared to its average volume of 898,372. The stock has a market capitalization of $49.83 billion, a P/E ratio of 62.29 and a beta of 1.03. The firm's fifty day simple moving average is $322.72 and its 200-day simple moving average is $287.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is currently 6.64%.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Truist Financial lifted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target for the company. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an "outperform" rating and a $355.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $321.69.

About Quanta Services

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.