Foster Dykema Cabot & Partners LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 113,428 shares of the construction company's stock after purchasing an additional 2,495 shares during the period. Quanta Services comprises approximately 2.8% of Foster Dykema Cabot & Partners LLC's portfolio, making the stock its 8th biggest position. Foster Dykema Cabot & Partners LLC owned about 0.08% of Quanta Services worth $35,849,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. First Commonwealth Financial Corp PA purchased a new position in shares of Quanta Services in the 4th quarter worth about $316,000. Altshuler Shaham Ltd purchased a new position in Quanta Services in the fourth quarter valued at about $280,000. Farringdon Capital Ltd. bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $340,000. MSH Capital Advisors LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $272,000. Finally, NewEdge Advisors LLC lifted its stake in Quanta Services by 66.1% in the fourth quarter. NewEdge Advisors LLC now owns 14,870 shares of the construction company's stock valued at $4,700,000 after purchasing an additional 5,918 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.
Quanta Services Trading Up 3.6 %
Shares of PWR traded up $9.22 during trading hours on Tuesday, hitting $262.99. The company had a trading volume of 368,387 shares, compared to its average volume of 1,639,638. The stock's 50 day moving average price is $262.67 and its 200 day moving average price is $301.26. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The firm has a market cap of $38.99 billion, a P/E ratio of 43.61, a P/E/G ratio of 1.41 and a beta of 1.04.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given 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 0.15%. Quanta Services's dividend payout ratio is currently 6.63%.
Wall Street Analyst Weigh In
PWR has been the topic of several research reports. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $319.25.
Get Our Latest Analysis on PWR
Quanta Services Profile
(
Free Report)
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.
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