Second Line Capital LLC Makes New $2.90 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Second Line Capital LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,733 shares of the construction company’s stock, valued at approximately $2,902,000. Quanta Services makes up approximately 0.8% of Second Line Capital LLC’s portfolio, making the stock its 28th largest holding.

Several other institutional investors have also recently made changes to their positions in PWR. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the third quarter worth approximately $30,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services during the second quarter worth $33,000. Quest Partners LLC bought a new stake in Quanta Services in the 2nd quarter valued at about $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services during the third quarter worth approximately $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PWR shares. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $319.69.

Quanta Services Trading Down 0.7 %

NYSE:PWR opened at $319.79 on Wednesday. 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 firm has a 50-day moving average of $320.62 and a 200-day moving average of $286.05. The company has a market cap of $47.20 billion, a PE ratio of 59.00 and a beta of 1.03. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.