DnB Asset Management AS Acquires 2,145 Shares of Quanta Services, Inc. (NYSE:PWR)

DnB Asset Management AS raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 52,393 shares of the construction company’s stock after purchasing an additional 2,145 shares during the quarter. DnB Asset Management AS’s holdings in Quanta Services were worth $16,559,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PWR. Fisher Asset Management LLC purchased a new stake in Quanta Services in the 3rd quarter valued at about $211,000. Bridgewater Associates LP bought a new stake in shares of Quanta Services during the third quarter valued at approximately $11,652,000. Glenmede Trust Co. NA boosted its holdings in shares of Quanta Services by 0.7% in the third quarter. Glenmede Trust Co. NA now owns 38,647 shares of the construction company’s stock valued at $11,523,000 after purchasing an additional 287 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Quanta Services by 591.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,252 shares of the construction company’s stock worth $5,144,000 after purchasing an additional 14,757 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Quanta Services during the 3rd quarter worth $656,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.3 %

Shares of NYSE:PWR opened at $254.17 on Friday. The company has a fifty day simple moving average of $283.07 and a 200 day simple moving average of $304.37. The firm has a market cap of $37.67 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PWR shares. Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. B. Riley reissued a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

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.