Foster Dykema Cabot & Partners LLC Has $35.85 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Foster Dykema Cabot & Partners LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,428 shares of the construction company’s stock after buying an additional 2,495 shares during the quarter. Quanta Services accounts for 2.8% of Foster Dykema Cabot & Partners LLC’s investment portfolio, making the stock its 8th biggest position. Foster Dykema Cabot & Partners LLC owned 0.08% of Quanta Services worth $35,849,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PWR. Webster Bank N. A. lifted 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 purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the 4th quarter valued at about $27,000. Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Quanta Services in the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc grew its position in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PWR shares. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. 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 report on Tuesday, April 8th. B. Riley reiterated a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Trading Down 1.2 %

Shares of NYSE PWR opened at $269.72 on Thursday. The stock has a market cap of $39.97 billion, a P/E ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. 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, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a 50-day moving average of $265.12 and a 200 day moving average of $301.99.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 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%. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.