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

Cinctive Capital Management LP increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 19.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,741 shares of the construction company’s stock after buying an additional 6,436 shares during the period. Cinctive Capital Management LP’s holdings in Quanta Services were worth $11,849,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the second quarter worth approximately $33,000. Quest Partners LLC bought a new stake in Quanta Services in the 2nd quarter valued at $35,000. MidAtlantic Capital Management Inc. acquired a new position in Quanta Services in the 3rd quarter valued at $41,000. Eastern Bank bought a new position in Quanta Services during the 3rd quarter worth $44,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services during the second quarter worth $38,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $344.52 on Monday. The stock’s 50 day moving average is $315.72 and its 200 day moving average is $283.05. Quanta Services, Inc. has a one year low of $186.18 and a one year high of $350.19. The firm has a market cap of $50.85 billion, a P/E ratio of 63.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on PWR. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. 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, October 23rd. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services 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.