Bamco Inc. NY Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Bamco Inc. NY grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,789 shares of the construction company’s stock after purchasing an additional 1,010 shares during the quarter. Bamco Inc. NY owned approximately 0.22% of Quanta Services worth $96,240,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Electron Capital Partners LLC raised its stake in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after buying an additional 369,581 shares during the period. Alkeon Capital Management LLC boosted its position in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares during the period. Finally, National Bank of Canada FI raised its holdings in Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after acquiring an additional 161,574 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 0.2 %

Shares of PWR opened at $344.52 on Monday. Quanta Services, Inc. has a 12 month low of $186.18 and a 12 month high of $350.19. The stock’s 50-day moving average is $315.72 and its two-hundred day moving average is $282.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $50.85 billion, a PE ratio of 63.56 and a beta of 1.01.

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

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 6.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Finally, Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $314.27.

About Quanta Services

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.