Equitable Trust Co. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Equitable Trust Co. bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 653 shares of the construction company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Quanta Services by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the construction company’s stock worth $238,000 after purchasing an additional 600 shares during the period. ORG Wealth Partners LLC purchased a new position in Quanta Services in the 3rd quarter worth about $95,000. ORG Partners LLC lifted its holdings in Quanta Services by 129.1% during the 3rd quarter. ORG Partners LLC now owns 804 shares of the construction company’s stock valued at $240,000 after buying an additional 453 shares in the last quarter. CX Institutional purchased a new stake in Quanta Services in the 3rd quarter valued at about $208,000. Finally, Creative Planning grew its stake in Quanta Services by 7.5% in the 3rd quarter. Creative Planning now owns 22,262 shares of the construction company’s stock worth $6,637,000 after acquiring an additional 1,562 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PWR. Stifel Nicolaus boosted their price target on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Stock Performance

Shares of PWR opened at $302.45 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $44.64 billion, a PE ratio of 55.80, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 12 month low of $205.82 and a 12 month high of $365.88. The stock has a fifty day moving average price of $323.25 and a 200-day moving average price of $303.98.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

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.