Vinva Investment Management Ltd Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Vinva Investment Management Ltd increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 27.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,939 shares of the construction company's stock after purchasing an additional 1,728 shares during the period. Vinva Investment Management Ltd's holdings in Quanta Services were worth $2,356,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PWR. Cambridge Trust Co. purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new stake in Quanta Services in the 2nd quarter valued at about $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services in the 2nd quarter valued at about $38,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services in the 3rd quarter valued at about $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target for the company. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target for the company. UBS Group upped their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Northland Securities reaffirmed an "outperform" rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.27.

Quanta Services Stock Performance

Quanta Services stock traded up $0.58 during mid-day trading on Friday, reaching $344.52. 370,777 shares of the company traded hands, compared to its average volume of 893,141. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a fifty-two week low of $186.18 and a fifty-two week high of $350.19. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. The firm's fifty day moving average is $314.64 and its two-hundred day moving average is $282.28.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 EPS. Quanta Services's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services's dividend payout ratio is 7.38%.

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.