Smith Moore & CO. Takes $206,000 Position in Quanta Services, Inc. (NYSE:PWR)

Smith Moore & CO. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 653 shares of the construction company’s stock, valued at approximately $206,000.

Several other hedge funds also recently added to or reduced their stakes in PWR. Prudential PLC grew its position in Quanta Services by 20.2% in the 4th quarter. Prudential PLC now owns 4,966 shares of the construction company’s stock valued at $1,570,000 after acquiring an additional 834 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Quanta Services by 805.2% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,050 shares of the construction company’s stock worth $332,000 after purchasing an additional 934 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Quanta Services in the 4th quarter worth about $2,541,000. World Investment Advisors bought a new stake in Quanta Services during the 4th quarter valued at about $229,000. Finally, SevenBridge Financial Group LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $220,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. B. Riley restated a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Trading Down 5.0 %

Shares of NYSE:PWR opened at $239.50 on Monday. The business’s 50-day moving average is $273.15 and its 200 day moving average is $304.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market capitalization of $35.49 billion, a P/E ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.17%. Quanta Services’s payout ratio is presently 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.