Polymer Capital Management HK LTD Makes New $1.26 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Polymer Capital Management HK LTD bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 4,000 shares of the construction company’s stock, valued at approximately $1,264,000.

Several other institutional investors have also recently modified their holdings of PWR. Kestra Private Wealth Services LLC boosted its holdings in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares during the last quarter. Principal Financial Group Inc. grew its stake 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 in the last quarter. Synovus Financial Corp grew its position in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares in the last quarter. Allstate Corp acquired a new position in Quanta Services in the fourth quarter worth about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after purchasing an additional 793 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $239.50 on Friday. The company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04. The stock’s 50 day moving average is $273.15 and its 200-day moving average is $304.21. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts expect 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 will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. B. Riley reissued a “neutral” rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Finally, Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.79.

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.