UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,143,033 shares of the construction company’s stock after acquiring an additional 82,981 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Quanta Services were worth $361,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $25,000. Webster Bank N. A. raised its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP acquired a new stake in Quanta Services in the fourth quarter valued at $26,000. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth $27,000. Finally, Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PWR shares. TD Cowen raised their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Evercore ISI lifted their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $344.35.

Quanta Services Stock Down 1.0%

Shares of NYSE PWR opened at $341.50 on Thursday. The firm has a market cap of $50.63 billion, a P/E ratio of 56.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm’s 50 day moving average price is $286.60 and its 200 day moving average price is $302.53.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

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.