Kane Investment Management Inc. Invests $2.17 Million in Quanta Services, Inc. (NYSE:PWR)

Kane Investment Management Inc. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,869 shares of the construction company’s stock, valued at approximately $2,171,000. Quanta Services comprises about 1.2% of Kane Investment Management Inc.’s portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Quanta Services during the 4th quarter valued at about $544,937,000. Raymond James Financial Inc. bought a new position in Quanta Services in the fourth quarter valued at approximately $203,068,000. Proficio Capital Partners LLC acquired a new position in shares of Quanta Services in the fourth quarter valued at approximately $53,949,000. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after acquiring an additional 161,277 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $46,364,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $274.40 on Tuesday. The company’s fifty day moving average is $266.73 and its 200 day moving average is $302.42. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a market cap of $40.67 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 1.41 and a beta of 1.04. 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 (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s payout ratio is currently 6.63%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.25.

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.