Castlekeep Investment Advisors LLC Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Castlekeep Investment Advisors LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 305,936 shares of the construction company's stock, valued at approximately $96,691,000. Castlekeep Investment Advisors LLC owned 0.21% of Quanta Services at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter valued at $25,000. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares during the period. Quarry LP acquired a new position in Quanta Services in the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter worth about $27,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWR. The Goldman Sachs Group lowered their price target on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, April 24th. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Friday. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Finally, B. Riley raised their target price on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $330.80.

Quanta Services Stock Down 0.3 %

Shares of NYSE:PWR opened at $321.04 on Monday. The firm has a fifty day moving average of $264.93 and a 200 day moving average of $300.18. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a market capitalization of $47.60 billion, a PE ratio of 53.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the firm posted $1.41 EPS. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is currently 6.63%.

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.

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