Smith Group Asset Management LLC Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Smith Group Asset Management LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 370.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,620 shares of the construction company’s stock after purchasing an additional 6,000 shares during the period. Smith Group Asset Management LLC’s holdings in Quanta Services were worth $2,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the 3rd quarter worth $30,000. Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. 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 report on Friday, November 1st. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $330.06.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $293.72 on Wednesday. The stock has a market capitalization of $43.36 billion, a price-to-earnings ratio of 54.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business has a 50-day moving average of $330.55 and a 200 day moving average of $300.60. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 during 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 business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business 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. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 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.