Kayne Anderson Rudnick Investment Management LLC Has $3.12 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Kayne Anderson Rudnick Investment Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,860 shares of the construction company’s stock after acquiring an additional 499 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Quanta Services were worth $3,116,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC boosted its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. Centricity Wealth Management LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc increased its position in 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 acquiring an additional 45 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Stock Down 4.9 %

Shares of NYSE PWR opened at $254.11 on Tuesday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The stock has a market capitalization of $37.68 billion, a P/E ratio of 42.14, a P/E/G ratio of 1.41 and a beta of 1.04. 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 50-day moving average price of $262.67 and a 200-day moving average price of $301.26.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

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.