Quanta Services, Inc. (NYSE:PWR) Stock Position Raised by Groupama Asset Managment

Groupama Asset Managment lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 82.0% during the fourth quarter, Holdings Channel reports. The firm owned 16,723 shares of the construction company’s stock after purchasing an additional 7,535 shares during the quarter. Groupama Asset Managment’s holdings in Quanta Services were worth $5,334,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PWR. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the third quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.4 %

Shares of Quanta Services stock opened at $257.64 on Wednesday. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock has a market capitalization of $38.18 billion, a P/E ratio of 42.73, a PEG ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $279.42 and a two-hundred day moving average price of $304.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 0.16%. Quanta Services’s payout ratio is 6.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PWR shares. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Stifel Nicolaus reduced their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

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.