Ossiam Buys 45 Shares of Quanta Services, Inc. (NYSE:PWR)

Ossiam grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 787 shares of the construction company’s stock after purchasing an additional 45 shares during the quarter. Ossiam’s holdings in Quanta Services were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% during the fourth 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 last quarter. Sierra Ocean LLC bought a new position in shares of Quanta Services in the 4th quarter worth about $27,000. Sound Income Strategies LLC lifted its stake 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 purchasing an additional 91 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc grew its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $261.88 on Wednesday. The stock has a 50 day moving average of $262.09 and a 200 day moving average of $300.98. The company has a market capitalization of $38.83 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its 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. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PWR shares. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Truist Financial cut their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $319.25.

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.