BNP Paribas Financial Markets Acquires 27,590 Shares of Quanta Services, Inc. (NYSE:PWR)

BNP Paribas Financial Markets grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,580 shares of the construction company’s stock after purchasing an additional 27,590 shares during the quarter. BNP Paribas Financial Markets’ holdings in Quanta Services were worth $67,257,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lazard Freres Gestion S.A.S. raised its holdings in Quanta Services by 19.5% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 2,390 shares of the construction company’s stock worth $712,000 after purchasing an additional 390 shares during the last quarter. Avestar Capital LLC raised its holdings in Quanta Services by 15.0% during the 3rd quarter. Avestar Capital LLC now owns 2,716 shares of the construction company’s stock worth $810,000 after purchasing an additional 355 shares during the last quarter. Brooklyn Investment Group bought a new position in Quanta Services during the 3rd quarter worth approximately $125,000. Horizon Kinetics Asset Management LLC bought a new position in Quanta Services during the 3rd quarter worth approximately $268,000. Finally, Diversified LLC raised its holdings in Quanta Services by 13.4% during the 3rd quarter. Diversified LLC now owns 1,246 shares of the construction company’s stock worth $371,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $343.83 on Thursday. The company has a fifty day simple moving average of $312.12 and a 200 day simple moving average of $281.41. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market cap of $50.75 billion, a P/E ratio of 63.44 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $2.08 EPS. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.