Neo Ivy Capital Management Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Neo Ivy Capital Management boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 634.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,330 shares of the construction company’s stock after purchasing an additional 7,196 shares during the quarter. Neo Ivy Capital Management’s holdings in Quanta Services were worth $2,117,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PWR. Capital World Investors boosted its position 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 acquiring an additional 891,977 shares in the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after acquiring an additional 99,416 shares during the period. Invesco Ltd. lifted its position in Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after acquiring an additional 68,565 shares during the period. Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth approximately $544,937,000. Finally, Bank of America Corp DE lifted its holdings in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after buying an additional 506,722 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.6%

NYSE:PWR opened at $407.34 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $410.79. The business’s 50-day simple moving average is $367.08 and its 200 day simple moving average is $315.10. The stock has a market cap of $60.39 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services’s payout ratio is currently 6.45%.

Analyst Ratings Changes

Several analysts have recently commented on PWR shares. Stifel Nicolaus raised their price target on Quanta Services from $363.00 to $411.00 and gave the company a “buy” rating in a report on Friday, July 11th. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. DA Davidson upped their target price on Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $359.20.

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.