Teamwork Financial Advisors LLC Invests $2.96 Million in Quanta Services, Inc. (NYSE:PWR)

Teamwork Financial Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel reports. The fund bought 9,370 shares of the construction company’s stock, valued at approximately $2,961,000.

Several other hedge funds have also modified their holdings of PWR. Versor Investments LP purchased a new stake in Quanta Services during the third quarter valued at about $406,000. Principal Financial Group Inc. raised its holdings in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the period. Asio Capital LLC purchased a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $2,715,000. Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the period. Finally, Synovus Financial Corp grew its position in Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.3 %

Quanta Services stock opened at $357.02 on Thursday. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $365.88. The company’s fifty day moving average price is $330.71 and its two-hundred day moving average price is $298.51. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 65.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. On average, analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PWR. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $325.06.

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.