Tobam Purchases New Stake in Quanta Services, Inc. (NYSE:PWR)

Tobam bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 304 shares of the construction company’s stock, valued at approximately $96,000.

A number of other large investors also recently made changes to their positions in PWR. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Quanta Services in the 4th quarter worth about $46,364,000. International Assets Investment Management LLC raised its stake in shares of Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. acquired a new position in Quanta Services in the third quarter worth approximately $27,430,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.4 %

Shares of PWR opened at $312.44 on Friday. Quanta Services, Inc. has a 52 week low of $205.82 and a 52 week high of $365.88. The firm has a market capitalization of $46.12 billion, a P/E ratio of 57.65, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a 50-day simple moving average of $325.27 and a 200-day simple moving average of $302.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BMO Capital Markets began coverage on shares of Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price for the company. UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $330.50.

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.