Union Bancaire Privee UBP SA Takes $46.36 Million Position in Quanta Services, Inc. (NYSE:PWR)

Union Bancaire Privee UBP SA bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 149,199 shares of the construction company’s stock, valued at approximately $46,364,000. Union Bancaire Privee UBP SA owned approximately 0.10% of Quanta Services at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the third quarter valued at approximately $30,000. Sound Income Strategies LLC increased its holdings in shares of 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 acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc boosted its position in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services in the third quarter valued at $41,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of several research analyst reports. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. TD Cowen lifted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Bank of America began coverage on shares of Quanta Services in a research note on Friday. They issued a “buy” rating and a $407.00 price target on the stock. Finally, Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.88.

Quanta Services Stock Up 0.8 %

PWR stock opened at $357.55 on Monday. The firm has a 50-day moving average price of $332.01 and a 200-day moving average price of $300.23. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88. 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 $52.78 billion, a P/E ratio of 65.97 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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. This represents a $0.40 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is 7.38%.

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.