Quanta Services, Inc. $PWR Stock Position Boosted by Traynor Capital Management Inc.

Traynor Capital Management Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,505 shares of the construction company’s stock after purchasing an additional 987 shares during the period. Traynor Capital Management Inc.’s holdings in Quanta Services were worth $9,319,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PWR. Sumitomo Mitsui Trust Group Inc. raised its position in Quanta Services by 0.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 356,598 shares of the construction company’s stock worth $229,118,000 after purchasing an additional 2,145 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $58,973,000. ProShare Advisors LLC increased its stake in shares of Quanta Services by 1.3% in the third quarter. ProShare Advisors LLC now owns 23,271 shares of the construction company’s stock valued at $14,952,000 after buying an additional 300 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Quanta Services in the third quarter valued at about $4,306,000. Finally, Blue Fin Capital Inc. acquired a new stake in shares of Quanta Services in the third quarter valued at about $564,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PWR shares. Sanford C. Bernstein raised Quanta Services from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $748.00 to $775.00 in a research note on Thursday, September 24th. Argus set a $800.00 target price on shares of Quanta Services in a research report on Wednesday, August 5th. Morgan Stanley downgraded shares of Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. The Goldman Sachs Group set a $781.00 price target on shares of Quanta Services in a report on Thursday, October 22nd. Finally, Truist Financial boosted their price target on shares of Quanta Services from $945.00 to $960.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Twenty-three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $766.62.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $620.50 on Monday. The business has a 50-day moving average price of $632.80 and a two-hundred day moving average price of $623.16. Quanta Services, Inc. has a 1-year low of $408.36 and a 1-year high of $788.75. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60. The company has a market cap of $93.50 billion, a P/E ratio of 56.20, a PEG ratio of 1.84 and a beta of 1.29.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The company had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the business earned $3.33 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 15.36 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Thursday, October 1st. Quanta Services’s payout ratio is presently 3.99%.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.