Voya Investment Management LLC Raises Stake in Quanta Services, Inc. (NYSE:PWR)

Voya Investment Management LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 210.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 550,598 shares of the construction company's stock after buying an additional 373,429 shares during the period. Voya Investment Management LLC owned 0.37% of Quanta Services worth $174,016,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PWR. Kestra Private Wealth Services LLC grew its position in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. grew its holdings in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp grew its holdings in 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 buying an additional 1,830 shares during the period. Allstate Corp acquired a new position in shares of Quanta Services during the 4th quarter valued at about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock worth $5,554,000 after acquiring an additional 793 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price on the stock. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price target for the company. Roth Capital raised Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $319.25.

Quanta Services Stock Up 5.0 %

Shares of NYSE:PWR opened at $274.93 on Thursday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market cap of $40.76 billion, a PE ratio of 45.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a fifty day simple moving average of $261.88 and a 200 day simple moving average of $300.80.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities research analysts anticipate 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. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.