iA Global Asset Management Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,460 shares of the construction company's stock, valued at approximately $5,709,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services during the first quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Quanta Services during the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Trading Down 0.3%
NYSE:PWR traded down $1.30 during trading hours on Friday, reaching $386.05. 655,319 shares of the stock were exchanged, compared to its average volume of 1,261,717. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $380.24 and a two-hundred day moving average of $320.44. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a market capitalization of $57.53 billion, a price-to-earnings ratio of 59.76, a PEG ratio of 2.30 and a beta of 1.10.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm's revenue was up 21.1% compared to the same quarter last year. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.19%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Stifel Nicolaus increased their target price on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Citigroup upped their price target on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average target price of $392.45.
Get Our Latest Analysis on Quanta Services
About Quanta Services
(
Free Report)
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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