Moore Capital Management LP Purchases New Stake in Quanta Services, Inc. (NYSE:PWR)

Moore Capital Management LP purchased a new stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,876 shares of the construction company’s stock, valued at approximately $2,022,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PFS Investments Inc. grew its position in Quanta Services by 7.3% in the third quarter. PFS Investments Inc. now owns 10,333 shares of the construction company’s stock worth $1,316,000 after acquiring an additional 705 shares during the period. Nuveen Asset Management LLC grew its position in Quanta Services by 7.9% in the third quarter. Nuveen Asset Management LLC now owns 927,297 shares of the construction company’s stock worth $118,128,000 after acquiring an additional 67,526 shares during the period. Canada Pension Plan Investment Board purchased a new position in Quanta Services in the third quarter worth approximately $10,441,000. Raab & Moskowitz Asset Management LLC grew its position in Quanta Services by 0.7% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 25,726 shares of the construction company’s stock worth $3,277,000 after acquiring an additional 176 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in Quanta Services in the third quarter worth approximately $424,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Quanta Services Trading Down 2.0 %

NYSE:PWR opened at $157.35 on Friday. The firm has a market cap of $22.66 billion, a PE ratio of 47.39 and a beta of 1.08. The stock has a fifty day moving average price of $151.18 and a 200 day moving average price of $144.57. Quanta Services, Inc. has a 12-month low of $106.33 and a 12-month high of $168.75. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 30th. This is a boost from Quanta Services’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 0.20%. Quanta Services’s dividend payout ratio (DPR) is currently 9.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 23,214 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $163.68, for a total value of $3,799,667.52. Following the sale, the executive vice president now directly owns 50,367 shares in the company, valued at $8,244,070.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird increased their price objective on Quanta Services from $157.00 to $173.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. UBS Group raised their price target on Quanta Services to $170.00 in a research report on Monday, November 21st. Argus raised their price target on Quanta Services from $168.00 to $189.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. Citigroup raised their price target on Quanta Services from $161.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. Finally, Cowen raised their price target on Quanta Services from $155.00 to $165.00 in a research report on Tuesday, December 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

Quanta Services Company Profile

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Quanta Services, Inc is engaged in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. It is operated through the following segments: Electric Power Infrastructure Services, and Underground Utility & Infrastructure Solutions.