Duality Advisers LP Buys 29,450 Shares of Quanta Services Inc (NYSE:PWR)

Duality Advisers LP boosted its stake in shares of Quanta Services Inc (NYSE:PWR) by 165.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,230 shares of the construction company’s stock after acquiring an additional 29,450 shares during the quarter. Duality Advisers LP’s holdings in Quanta Services were worth $1,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Fort L.P. acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $39,000. Valeo Financial Advisors LLC boosted its position in Quanta Services by 2,541.8% during the first quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,398 shares during the period. Wakefield Asset Management LLLP bought a new stake in shares of Quanta Services in the first quarter valued at about $62,000. Quantamental Technologies LLC bought a new stake in shares of Quanta Services in the first quarter valued at about $69,000. Finally, CSat Investment Advisory L.P. boosted its position in shares of Quanta Services by 53.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock valued at $56,000 after acquiring an additional 649 shares during the period. 86.37% of the stock is currently owned by institutional investors.

In other news, insider James Redgie Probst sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the insider now directly owns 47,420 shares of the company’s stock, valued at approximately $1,896,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

PWR has been the subject of several research analyst reports. B. Riley reissued a “buy” rating and set a $47.00 target price (down previously from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Finally, Citigroup set a $47.00 price target on Quanta Services and gave the company a “buy” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Quanta Services currently has an average rating of “Hold” and a consensus target price of $42.80.

Quanta Services stock traded up $0.89 during mid-day trading on Monday, hitting $39.08. The company had a trading volume of 2,069,947 shares, compared to its average volume of 1,440,034. The company has a quick ratio of 1.95, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The business has a 50 day simple moving average of $36.65. The company has a market capitalization of $5.43 billion, a P/E ratio of 15.45 and a beta of 1.18. Quanta Services Inc has a 12 month low of $27.90 and a 12 month high of $41.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts predict that Quanta Services Inc will post 3.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. Quanta Services’s dividend payout ratio (DPR) is presently 6.32%.

Quanta Services Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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