New England Research & Management Inc. Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

New England Research & Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,571 shares of the construction company’s stock after buying an additional 1,750 shares during the period. Quanta Services makes up approximately 1.6% of New England Research & Management Inc.’s investment portfolio, making the stock its 15th largest holding. New England Research & Management Inc.’s holdings in Quanta Services were worth $3,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Quanta Services during the 4th quarter valued at approximately $544,937,000. Capital World Investors boosted its holdings in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. GAMMA Investing LLC boosted its stake in Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after buying an additional 811,797 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $203,068,000. Finally, Bank of America Corp DE increased its holdings in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after buying an additional 506,722 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.2%

Shares of NYSE PWR opened at $357.86 on Friday. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. 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 stock’s 50-day simple moving average is $316.61 and its 200-day simple moving average is $304.93. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. B. Riley boosted their target price on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. UBS Group raised their target price on Quanta Services from $369.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, DA Davidson boosted their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $349.65.

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.