Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Park Place Capital Corp

Park Place Capital Corp grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,456 shares of the construction company’s stock after purchasing an additional 787 shares during the quarter. Park Place Capital Corp’s holdings in Quanta Services were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the 3rd quarter valued at $30,000. Versant Capital Management Inc grew its position in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter worth $41,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird boosted their target price 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. Stifel Nicolaus boosted their price target on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

Quanta Services Stock Up 1.9 %

Shares of Quanta Services stock opened at $364.91 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $53.86 billion, a P/E ratio of 67.33 and a beta of 1.06. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $364.91. The business has a 50-day moving average price of $330.11 and a 200 day moving average price of $298.10.

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

Quanta Services Increases Dividend

The firm also recently disclosed 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. 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 annualized dividend and a dividend yield of 0.11%. Quanta Services’s payout ratio is currently 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.