Kennedy Investment Group Buys 102 Shares of Quanta Services, Inc. (NYSE:PWR)

Kennedy Investment Group grew its stake in Quanta Services, Inc. (NYSE:PWR) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,616 shares of the construction company’s stock after acquiring an additional 102 shares during the period. Kennedy Investment Group’s holdings in Quanta Services were worth $827,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PWR. Alkeon Capital Management LLC grew its holdings in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Quanta Services during the fourth quarter worth about $46,364,000. International Assets Investment Management LLC grew its holdings in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the period. Public Sector Pension Investment Board grew its holdings in Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new stake in Quanta Services during the third quarter worth approximately $27,430,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $293.72 on Wednesday. The firm’s fifty day simple moving average is $330.55 and its two-hundred day simple moving average is $300.60. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The stock has a market capitalization of $43.36 billion, a P/E ratio of 54.19 and a beta of 1.06. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analyst Ratings Changes

PWR has been the subject of several research reports. TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four equities 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.41.

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.