4,295 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Allstate Corp

Allstate Corp acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,295 shares of the construction company’s stock, valued at approximately $1,357,000.

A number of other hedge funds also recently bought and sold shares of PWR. Geneos Wealth Management Inc. grew its position in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its holdings in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after buying an additional 29 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC grew its holdings in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.3 %

Quanta Services stock opened at $254.17 on Monday. The stock’s 50 day moving average price is $283.07 and its 200 day moving average price is $305.05. The company has a market cap of $37.67 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. 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.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is currently 6.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Seven 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 stock. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average 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.