Patron Partners LLC Buys New Holdings in Quanta Services, Inc. (NYSE:PWR)

Patron Partners LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 821 shares of the construction company’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Quanta Services during the 2nd quarter worth about $634,000. Czech National Bank boosted its holdings in Quanta Services by 7.9% during the third quarter. Czech National Bank now owns 30,012 shares of the construction company’s stock valued at $8,948,000 after purchasing an additional 2,185 shares in the last quarter. GAMMA Investing LLC raised its position in Quanta Services by 67.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,149 shares of the construction company’s stock valued at $939,000 after purchasing an additional 1,273 shares during the last quarter. Diversified Trust Co grew its holdings in Quanta Services by 5.7% during the 3rd quarter. Diversified Trust Co now owns 948 shares of the construction company’s stock worth $283,000 after acquiring an additional 51 shares during the period. Finally, Mather Group LLC. grew its position in shares of Quanta Services by 31.8% in the 3rd quarter. Mather Group LLC. now owns 916 shares of the construction company’s stock valued at $273,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PWR. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Stifel Nicolaus upped their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Performance

Quanta Services stock opened at $301.97 on Tuesday. Quanta Services, Inc. has a 52 week low of $200.23 and a 52 week high of $365.88. The firm has a market capitalization of $44.57 billion, a P/E ratio of 55.71, a PEG ratio of 1.54 and a beta of 1.05. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $327.77 and a 200 day moving average price of $301.96.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 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.