Quanta Services, Inc. (NYSE:PWR) Shares Bought by Rockingstone Advisors LLC

Rockingstone Advisors LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,638 shares of the construction company’s stock after acquiring an additional 812 shares during the period. Rockingstone Advisors LLC’s holdings in Quanta Services were worth $2,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $31,000. Quest Partners LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $35,000. Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Quanta Services during the third quarter worth about $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.9 %

NYSE:PWR opened at $329.31 on Thursday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The business’s 50-day moving average is $328.93 and its two-hundred day moving average is $295.24. 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 firm has a market capitalization of $48.61 billion, a PE ratio of 60.76 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company posted $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. Research 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 declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is 7.38%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Stifel Nicolaus upped their target price on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, Citigroup increased their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $324.25.

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.