Myriad Asset Management US LP Takes 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 its most recent 13F filing with the SEC. The fund purchased 4,059 shares of the construction company’s stock, valued at approximately $1,283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Alkeon Capital Management LLC grew its position in Quanta Services by 62.5% in 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 purchased a new position in Quanta Services in the fourth quarter worth $46,364,000. International Assets Investment Management LLC grew its position in Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after acquiring an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board grew its position in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after acquiring an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new position in Quanta Services in the third quarter worth $27,430,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 2.0 %

Shares of PWR stock opened at $285.13 on Friday. Quanta Services, Inc. has a 12-month low of $206.58 and a 12-month high of $365.88. 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 firm’s 50 day moving average is $320.72 and its 200 day moving average is $304.05. The stock has a market capitalization of $42.09 billion, a P/E ratio of 52.61, a P/E/G ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.14%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PWR shares. Stifel Nicolaus upped their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets started coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets began coverage on shares of Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective 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. According to 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.