Quanta Services, Inc. (NYSE:PWR) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 15.6% in the fourth quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in Quanta Services during the fourth quarter worth $63,000. NEOS Investment Management LLC raised its stake in shares of Quanta Services by 72.5% during the 4th quarter. NEOS Investment Management LLC now owns 8,231 shares of the construction company’s stock worth $2,601,000 after buying an additional 3,459 shares during the last quarter. Elo Mutual Pension Insurance Co grew its stake in Quanta Services by 5.2% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 13,596 shares of the construction company’s stock valued at $4,297,000 after acquiring an additional 674 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Quanta Services by 7.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 235,164 shares of the construction company’s stock valued at $76,786,000 after acquiring an additional 15,403 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. raised its position in Quanta Services by 0.3% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 35,609 shares of the construction company’s stock worth $11,254,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Stock Down 2.4 %

PWR opened at $254.47 on Friday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a 50 day moving average price of $284.73 and a 200 day moving average price of $304.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market cap of $37.71 billion, a PE ratio of 42.20, a price-to-earnings-growth 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 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 business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

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.