Los Angeles Capital Management LLC Buys 43,192 Shares of Quanta Services, Inc. (NYSE:PWR)

Los Angeles Capital Management LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3,912.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,296 shares of the construction company’s stock after acquiring an additional 43,192 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Quanta Services were worth $11,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NBC Securities Inc. boosted its stake in Quanta Services by 4,740.2% during the first quarter. NBC Securities Inc. now owns 9,390 shares of the construction company’s stock worth $2,439,000 after acquiring an additional 9,196 shares in the last quarter. CWM LLC boosted its stake in Quanta Services by 1.6% during the first quarter. CWM LLC now owns 4,919 shares of the construction company’s stock worth $1,278,000 after acquiring an additional 76 shares in the last quarter. Moody National Bank Trust Division bought a new position in Quanta Services during the first quarter worth $202,000. Newbridge Financial Services Group Inc. acquired a new position in Quanta Services during the fourth quarter worth $34,000. Finally, Nomura Holdings Inc. acquired a new position in Quanta Services during the fourth quarter worth $631,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $281.20 on Thursday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The firm has a 50-day moving average of $266.05 and a 200-day moving average of $237.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $41.16 billion, a P/E ratio of 54.50 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. Equities research analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PWR. Argus upped their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. DA Davidson upped their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Truist Financial restated a “buy” rating and set a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Finally, Citigroup upped their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate 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.