Rockingstone Advisors LLC Acquires 812 Shares of Quanta Services, Inc. (NYSE:PWR)

Rockingstone Advisors LLC raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,638 shares of the construction company's stock after acquiring an additional 812 shares during the quarter. Rockingstone Advisors LLC's holdings in Quanta Services were worth $2,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP bought a new stake in Quanta Services during the third quarter worth approximately $406,000. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new position in shares of Quanta Services in the third quarter worth $2,715,000. Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock worth $12,509,000 after buying an additional 2,557 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 2.0 %

PWR stock traded up $6.50 during trading on Thursday, reaching $335.92. 1,469,574 shares of the stock were exchanged, compared to its average volume of 1,030,824. The firm has a market cap of $49.59 billion, a P/E ratio of 61.98 and a beta of 1.06. The firm's 50 day moving average is $329.23 and its 200 day moving average is $295.52. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month 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 released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 earnings per share. As a group, research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is an increase from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio (DPR) is 7.38%.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Northland Securities reiterated an "outperform" rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target 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.