Cinctive Capital Management LP Buys 6,436 Shares of Quanta Services, Inc. (NYSE:PWR)

Cinctive Capital Management LP raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 19.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,741 shares of the construction company’s stock after acquiring an additional 6,436 shares during the quarter. Cinctive Capital Management LP’s holdings in Quanta Services were worth $11,849,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Janus Henderson Group PLC boosted its holdings in shares of Quanta Services by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock worth $5,469,000 after acquiring an additional 201 shares in the last quarter. Cetera Investment Advisers grew its holdings in Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after acquiring an additional 910 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Quanta Services by 48.3% during the second quarter. GAMMA Investing LLC now owns 1,876 shares of the construction company’s stock valued at $477,000 after purchasing an additional 611 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Quanta Services by 32.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 415 shares of the construction company’s stock valued at $105,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.2 %

PWR stock opened at $344.52 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $50.85 billion, a P/E ratio of 63.56 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $186.18 and a fifty-two week high of $350.19. The business has a 50-day moving average of $315.72 and a 200-day moving average of $283.05.

Quanta Services (NYSE:PWR) 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PWR shares. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Citigroup increased their price target on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.