Park Avenue Securities LLC Has $4.75 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Park Avenue Securities LLC grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,028 shares of the construction company's stock after purchasing an additional 956 shares during the quarter. Park Avenue Securities LLC's holdings in Quanta Services were worth $4,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PWR. Electron Capital Partners LLC grew its holdings in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC boosted its position in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock valued at $39,018,000 after acquiring an additional 150,361 shares in the last quarter. International Assets Investment Management LLC increased its position in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock worth $44,269,000 after acquiring an additional 147,980 shares during the period. Finally, Meitav Investment House Ltd. acquired a new stake in Quanta Services in the 3rd quarter worth about $27,430,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

NYSE:PWR traded up $0.91 on Friday, hitting $337.10. The company had a trading volume of 1,358,031 shares, compared to its average volume of 1,060,575. The firm has a 50 day moving average of $329.23 and a two-hundred day moving average of $295.52. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the prior year, the company earned $2.08 EPS. Quanta Services's revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate 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. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is currently 7.38%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Daiwa America upgraded Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an "outperform" rating and a $355.00 target price for the company. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $324.19.

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.