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

Longboard Asset Management LP bought a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 739 shares of the construction company’s stock, valued at approximately $234,000.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after buying an additional 29 shares in the last quarter. Commonwealth Financial Services LLC raised its position in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC lifted its stake in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its stake in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $301.97 on Tuesday. The firm has a market cap of $44.57 billion, a P/E ratio of 55.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The stock’s 50-day moving average is $327.77 and its two-hundred day moving average is $301.96. Quanta Services, Inc. has a fifty-two week low of $200.23 and a fifty-two week high of $365.88. 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 Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. UBS Group upped their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets began coverage on Quanta Services in a research report on Monday. They set an “outperform” rating and a $338.00 price objective for the company. Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently 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.