AXQ Capital LP Makes New $215,000 Investment in Quanta Services, Inc. (NYSE:PWR)

AXQ Capital LP purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 680 shares of the construction company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth $27,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $279.21 on Tuesday. 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 firm has a market cap of $41.38 billion, a P/E ratio of 46.30, a P/E/G ratio of 1.41 and a beta of 1.10. The business’s 50 day moving average price is $288.60 and its 200-day moving average price is $304.81. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (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. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus decreased their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $326.79.

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.