BOCHK Asset Management Ltd Purchases Shares of 1,200 Quanta Services, Inc. (NYSE:PWR)

BOCHK Asset Management Ltd purchased a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,200 shares of the construction company’s stock, valued at approximately $379,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versor Investments LP acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $406,000. Principal Financial Group Inc. grew its holdings in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares in the last quarter. Asio Capital LLC bought a new position in shares of Quanta Services in the 3rd quarter valued at about $2,715,000. Waverton Investment Management Ltd grew its holdings in shares of Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.4 %

Shares of NYSE:PWR opened at $293.72 on Wednesday. Quanta Services, Inc. has a 12-month low of $193.52 and a 12-month high of $365.88. The stock has a market cap of $43.36 billion, a PE ratio of 54.19 and a beta of 1.06. The business has a 50 day moving average of $330.55 and a 200-day moving average of $300.60. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Analyst Ratings Changes

PWR has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Stifel Nicolaus lifted their price target on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.06.

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.