BI Asset Management Fondsmaeglerselskab A S Invests $3.16 Million in Quanta Services, Inc. (NYSE:PWR)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,004 shares of the construction company’s stock, valued at approximately $3,162,000.

A number of other large investors have also added to or reduced their stakes in the company. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services in the fourth quarter worth $27,000. Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc boosted its position in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $267.47 on Monday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The firm has a market capitalization of $39.64 billion, a P/E ratio of 44.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The stock’s fifty day moving average is $263.56 and its two-hundred day moving average is $301.62. 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 (NYSE:PWR) last announced its quarterly earnings data 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, research 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 disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Citigroup cut their target price on 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 given a buy rating and three 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 price target of $319.25.

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.