Fox Run Management L.L.C. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Fox Run Management L.L.C. purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,622 shares of the construction company’s stock, valued at approximately $1,461,000.

Several other hedge funds have also bought and sold shares of PWR. Kestra Private Wealth Services LLC boosted its position in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Synovus Financial Corp raised its position in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after purchasing an additional 793 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $1,754,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

NYSE PWR opened at $268.43 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The business’s fifty day moving average is $289.30 and its 200 day moving average is $303.94. The company has a market capitalization of $39.78 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio is currently 6.63%.

Quanta Services 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.