Quanta Services, Inc. (NYSE:PWR) Stake Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 85.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,752 shares of the construction company’s stock after buying an additional 2,184 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Quanta Services were worth $1,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Alkeon Capital Management LLC raised its holdings in Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Quanta Services in the 4th quarter worth approximately $46,364,000. International Assets Investment Management LLC grew its position in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Quanta Services during the 3rd quarter valued at about $27,430,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Citigroup cut their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Price Performance

NYSE:PWR opened at $298.44 on Thursday. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $205.82 and a 52 week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm’s 50-day simple moving average is $322.55 and its 200 day simple moving average is $303.94.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is 7.38%.

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.