Myriad Asset Management US LP Takes $1.28 Million Position in Quanta Services, Inc. (NYSE:PWR)

Myriad Asset Management US LP purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,059 shares of the construction company’s stock, valued at approximately $1,283,000.

A number of other hedge funds have also added to or reduced their stakes in PWR. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $31,000. Sound Income Strategies LLC boosted its stake in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PWR shares. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Trading Down 2.0 %

Shares of PWR stock opened at $285.13 on Friday. The company’s fifty day simple moving average is $320.72 and its two-hundred day simple moving average is $304.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $206.58 and a 1 year high of $365.88. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

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

Quanta Services Company 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.