L & S Advisors Inc Acquires New Stake in Quanta Services, Inc. (NYSE:PWR)

L & S Advisors Inc bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, Holdings Channel reports. The institutional investor bought 7,729 shares of the construction company’s stock, valued at approximately $2,443,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Norges Bank purchased a new stake in shares of Quanta Services during the fourth quarter worth about $544,937,000. Raymond James Financial Inc. purchased a new stake in Quanta Services in the 4th quarter worth approximately $203,068,000. Proficio Capital Partners LLC acquired a new position in Quanta Services in the 4th quarter valued at $53,949,000. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $46,364,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus lowered their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $254.17 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The business has a 50 day moving average price of $283.07 and a two-hundred day moving average price of $304.75. 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 (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services 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.