SevenBridge Financial Group LLC Buys New Stake in Quanta Services, Inc. (NYSE:PWR)

SevenBridge Financial Group LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 726 shares of the construction company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Paloma Partners Management Co lifted its position in shares of Quanta Services by 139.3% during the 3rd quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock worth $203,000 after buying an additional 397 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Quanta Services during the third quarter valued at $511,000. Janus Henderson Group PLC boosted its stake in shares of Quanta Services by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock valued at $5,134,000 after purchasing an additional 800 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Quanta Services by 48.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,880 shares of the construction company’s stock worth $1,455,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Quanta Services by 328.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 21,644 shares of the construction company’s stock worth $6,453,000 after purchasing an additional 16,595 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Seven investment 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’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Up 2.6 %

NYSE:PWR opened at $264.62 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock’s fifty day simple moving average is $277.57 and its 200-day simple moving average is $304.58. The firm has a market capitalization of $39.22 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities research analysts expect 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. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is presently 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.