Sarasin & Partners LLP Purchases 4,482 Shares of Quanta Services, Inc. (NYSE:PWR)

Sarasin & Partners LLP boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,318 shares of the construction company’s stock after buying an additional 4,482 shares during the period. Sarasin & Partners LLP’s holdings in Quanta Services were worth $6,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc lifted its stake 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 valued at $37,000 after purchasing an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $41,000. Finally, Eastern Bank bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $44,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Monday. 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 market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The stock’s fifty day simple moving average is $329.35 and its two-hundred day simple moving average is $296.78. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Stifel Nicolaus increased their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup increased their price target on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Northland Securities restated 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. Finally, TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $324.19.

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.