Longboard Asset Management LP Purchases Shares of 739 Quanta Services, Inc. (NYSE:PWR)

Longboard Asset Management LP acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel.com reports. The fund acquired 739 shares of the construction company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Prestige Wealth Management Group LLC bought a new stake in Quanta Services in the third quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the third quarter worth about $31,000. Sound Income Strategies LLC lifted its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.8 %

PWR stock opened at $301.97 on Tuesday. 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, Inc. has a twelve month low of $200.23 and a twelve month high of $365.88. The company has a market cap of $44.57 billion, a P/E ratio of 55.71, a PEG ratio of 1.54 and a beta of 1.05. The business has a fifty day moving average of $327.77 and a 200-day moving average of $301.96.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 7.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services 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.