BOCHK Asset Management Ltd Invests $379,000 in Quanta Services, Inc. (NYSE:PWR)

BOCHK Asset Management Ltd acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,200 shares of the construction company's stock, valued at approximately $379,000.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after buying an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after buying an additional 43,715 shares during the period. Swedbank AB boosted its holdings in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Quanta Services by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock valued at $253,063,000 after acquiring an additional 11,565 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.4 %

Shares of PWR stock traded down $1.19 during mid-day trading on Friday, reaching $308.10. 1,162,727 shares of the company were exchanged, compared to its average volume of 1,353,427. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business's 50 day simple moving average is $328.59 and its 200 day simple moving average is $301.30. The company has a market capitalization of $45.48 billion, a P/E ratio of 56.85, a P/E/G ratio of 1.49 and a beta of 1.06. Quanta Services, Inc. has a fifty-two week low of $193.52 and a fifty-two week high of $365.88.

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

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.13%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is presently 7.38%.

Analyst Ratings Changes

PWR has been the topic of several research analyst reports. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. 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 research note on Wednesday, October 23rd. Citigroup decreased their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $330.06.

About Quanta Services

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.