Neo Ivy Capital Management Makes New $240,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Neo Ivy Capital Management bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 808 shares of the construction company’s stock, valued at approximately $240,000.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $406,000. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the period. Asio Capital LLC bought a new stake in Quanta Services during the 3rd quarter worth about $2,715,000. Waverton Investment Management Ltd lifted its position in Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 0.6 %

Shares of NYSE:PWR opened at $336.10 on Friday. The stock has a 50 day moving average of $322.08 and a 200 day moving average of $286.73. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The company has a market cap of $49.61 billion, a PE ratio of 62.01 and a beta of 1.03.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. Quanta Services’s quarterly revenue 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 year.

Quanta Services Increases Dividend

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

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.69.

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.