KLP Kapitalforvaltning AS Invests $28.03 Million in Quanta Services, Inc. (NYSE:PWR)

KLP Kapitalforvaltning AS purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 88,700 shares of the construction company’s stock, valued at approximately $28,034,000.

A number of other hedge funds have also bought and sold shares of PWR. Knights of Columbus Asset Advisors LLC lifted its holdings in Quanta Services by 0.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company’s stock worth $4,256,000 after buying an additional 41 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Quanta Services during the 4th quarter valued at approximately $215,000. Vestor Capital LLC lifted its stake in Quanta Services by 22,640.7% during the fourth quarter. Vestor Capital LLC now owns 32,974 shares of the construction company’s stock worth $10,421,000 after purchasing an additional 32,829 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in Quanta Services by 46.4% in the fourth quarter. Mizuho Securities USA LLC now owns 13,990 shares of the construction company’s stock worth $4,422,000 after purchasing an additional 4,436 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Quanta Services by 181.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 186 shares of the construction company’s stock valued at $59,000 after purchasing an additional 120 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.0 %

Quanta Services stock opened at $268.43 on Friday. 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 $39.78 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm has a 50 day simple moving average of $289.30 and a 200-day simple moving average of $304.27. 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 (NYSE:PWR) last issued its quarterly earnings results 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. 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 analysts’ expectations of $6.61 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. B. Riley reiterated a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday. Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. 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 data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price 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.