Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,524 shares of the construction company's stock, valued at approximately $1,746,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Webster Bank N. A. raised its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after buying an additional 91 shares during the period. Institutional investors own 90.49% of the company's stock.
Quanta Services Stock Up 2.7 %
Quanta Services stock traded up $7.20 during midday trading on Friday, reaching $269.90. The stock had a trading volume of 1,098,254 shares, compared to its average volume of 1,705,356. The stock has a market capitalization of $40.00 billion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The firm's fifty day simple moving average is $267.21 and its 200-day simple moving average is $302.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Quanta Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio is currently 6.63%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on PWR shares. Stifel Nicolaus cut their price objective on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a report on Wednesday. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price objective for the company. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 target price for the company. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $319.25.
View Our Latest Research Report on Quanta Services
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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