Quanta Services, Inc. (NYSE:PWR) Shares Bought by Sarasin & Partners LLP

Sarasin & Partners LLP boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 26.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,318 shares of the construction company’s stock after acquiring an additional 4,482 shares during the quarter. Sarasin & Partners LLP’s holdings in Quanta Services were worth $6,738,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in Quanta Services during the 3rd quarter worth about $406,000. Principal Financial Group Inc. raised its stake in shares of Quanta Services by 5.6% during 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 last quarter. Asio Capital LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at about $2,715,000. Waverton Investment Management Ltd raised its stake in shares of Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% during 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 last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Monday. The firm has a market cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The business’s 50 day moving average is $329.35 and its two-hundred day moving average is $296.78.

Quanta Services (NYSE:PWR) last announced its earnings results 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 earnings per share. Research analysts predict that Quanta Services, Inc. will post 7.9 EPS 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 given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PWR shares. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Citigroup lifted their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat, the company presently 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.