Zweig DiMenna Associates LLC Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Zweig DiMenna Associates LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,106 shares of the construction company’s stock after purchasing an additional 7,850 shares during the quarter. Quanta Services makes up 2.2% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 12th biggest holding. Zweig DiMenna Associates LLC’s holdings in Quanta Services were worth $21,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in Quanta Services during the 1st quarter valued at approximately $25,000. Private Ocean LLC purchased a new position in Quanta Services during the first quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services in the 1st quarter valued at $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services in the 1st quarter worth $26,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter valued at about $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.1 %

Shares of NYSE PWR opened at $309.93 on Friday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. The firm has a 50-day simple moving average of $285.59 and a two-hundred day simple moving average of $270.48. The company has a market cap of $45.66 billion, a P/E ratio of 58.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.79%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PWR shares. Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $308.07.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last 90 days. Company insiders own 1.10% of the company’s stock.

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.