AQR Capital Management LLC Grows Stock Position in Quanta Services, Inc. (NYSE:PWR)

AQR Capital Management LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 38,196 shares of the construction company’s stock after acquiring an additional 57 shares during the quarter. AQR Capital Management LLC’s holdings in Quanta Services were worth $9,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in Quanta Services during the first quarter valued at $227,218,000. Capital World Investors increased its stake in shares of Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. American Century Companies Inc. raised its holdings in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after purchasing an additional 369,581 shares during the period. Sei Investments Co. boosted its position in Quanta Services by 393.9% during the fourth quarter. Sei Investments Co. now owns 324,223 shares of the construction company’s stock worth $69,966,000 after purchasing an additional 258,580 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $299.19 on Thursday. The business’s 50 day moving average price is $267.42 and its 200 day moving average price is $264.42. The company has a market cap of $44.08 billion, a price-to-earnings ratio of 57.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $306.50.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PWR. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Citigroup increased their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Northland Securities lifted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Finally, Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $286.69.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

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.