Wilmington Savings Fund Society FSB Invests $1.06 Million in Quanta Services, Inc. (NYSE:PWR)

Wilmington Savings Fund Society FSB bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,550 shares of the construction company's stock, valued at approximately $1,058,000.

Other hedge funds have also modified their holdings of the company. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. American Century Companies Inc. raised its holdings in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after acquiring an additional 369,581 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Quanta Services by 62.5% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock valued at $53,455,000 after purchasing an additional 161,574 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PWR shares. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Robert W. Baird increased 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. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They set an "outperform" rating and a $355.00 target price for the company. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $321.69.

Quanta Services Price Performance

Quanta Services stock traded up $1.50 during mid-day trading on Friday, hitting $337.60. 1,121,605 shares of the company traded hands, compared to its average volume of 898,372. The stock has a market cap of $49.83 billion, a price-to-earnings ratio of 62.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The stock has a fifty day moving average price of $322.72 and a 200-day moving average price of $287.16.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis 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 currently 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.