Cohen Capital Management Inc. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Cohen Capital Management Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the 1st quarter, Holdings Channel.com reports. The fund acquired 827 shares of the construction company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter valued at $25,000. Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter valued at about $26,000. OLD Second National Bank of Aurora acquired a new stake in Quanta Services during the first quarter worth about $42,000. Sound Income Strategies LLC raised its position in Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after acquiring an additional 81 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Quanta Services by 181.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 186 shares of the construction company’s stock valued at $59,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PWR. UBS Group set a $413.00 target price on shares of Quanta Services and gave the company a “buy” rating in a report on Thursday, June 12th. B. Riley upped their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, BMO Capital Markets set a $352.00 price objective on Quanta Services in a report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $353.35.

Quanta Services Trading Up 0.9%

Shares of Quanta Services stock opened at $383.63 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $355.23 and its 200-day simple moving average is $310.23. The stock has a market cap of $56.88 billion, a P/E ratio of 61.88, a P/E/G ratio of 2.98 and a beta of 1.08. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $388.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. Quanta Services’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.45%.

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.