Zimmer Partners LP Has $14 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Zimmer Partners LP boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 26.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,300 shares of the construction company’s stock after buying an additional 9,300 shares during the quarter. Zimmer Partners LP’s holdings in Quanta Services were worth $14,001,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of Quanta Services in the 4th quarter valued at $25,000. Webster Bank N. A. grew its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.1%

Quanta Services stock opened at $344.54 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a 50-day moving average of $283.12 and a 200-day moving average of $301.96. The company has a market cap of $51.08 billion, a price-to-earnings ratio of 57.14, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. Piper Sandler set a $360.00 price target on shares of Quanta Services and gave the company an “overweight” rating in a report on Tuesday, May 6th. Truist Financial reduced their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. B. Riley upped their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Argus set a $375.00 target price on shares of Quanta Services in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

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.