IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,424 shares of the construction company’s stock after purchasing an additional 461 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Quanta Services were worth $1,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its holdings in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares during the period. Commonwealth Financial Services LLC boosted its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC grew its holdings in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after buying an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC lifted its holdings in Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after buying an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PWR shares. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Citigroup reduced their price target 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. Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $254.47 on Friday. The stock has a fifty day moving average price of $284.73 and a 200 day moving average price of $304.34. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $37.71 billion, a PE ratio of 42.20, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Quanta Services 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.