GKV Capital Management Co. Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

GKV Capital Management Co. Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,541 shares of the construction company’s stock, valued at approximately $5,228,000. Quanta Services accounts for approximately 2.1% of GKV Capital Management Co. Inc.’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also recently bought and sold shares of PWR. Kestra Private Wealth Services LLC lifted its position in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Allstate Corp purchased a new position in Quanta Services in the 4th quarter valued at $1,357,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after acquiring an additional 793 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. B. Riley reissued a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Truist Financial reduced 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. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.25.

Quanta Services Trading Down 1.2 %

NYSE:PWR opened at $269.72 on Thursday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The business’s 50 day moving average is $265.12 and its two-hundred day moving average is $301.99. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $39.97 billion, a PE ratio of 44.73, a P/E/G ratio of 1.41 and a beta of 1.04.

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 analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is 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.