Versor Investments LP Invests $406,000 in Quanta Services, Inc. (NYSE:PWR)

Versor Investments LP bought a new position in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,363 shares of the construction company’s stock, valued at approximately $406,000.

A number of other hedge funds also recently bought and sold shares of the company. Tower Wealth Partners Inc. boosted its stake in Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after purchasing an additional 34 shares in the last quarter. Terra Nova Asset Management LLC boosted its stake in Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares in the last quarter. Greenleaf Trust boosted its stake in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after purchasing an additional 38 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after purchasing an additional 39 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock worth $1,757,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.9 %

Quanta Services stock opened at $323.87 on Friday. The firm has a 50 day moving average of $300.29 and a 200 day moving average of $277.12. The firm has a market capitalization of $47.81 billion, a price-to-earnings ratio of 59.75 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during 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 quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. Citigroup upped their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Truist Financial upped their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

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.