Knights of Columbus Asset Advisors LLC Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Knights of Columbus Asset Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,467 shares of the construction company’s stock after purchasing an additional 41 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Quanta Services were worth $4,256,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Quanta Services during the 4th quarter valued at approximately $203,068,000. Alkeon Capital Management LLC grew its holdings in Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Quanta Services during the 4th quarter valued at approximately $53,949,000. Union Bancaire Privee UBP SA purchased a new position in Quanta Services during the 4th quarter valued at approximately $46,364,000. Finally, Public Sector Pension Investment Board grew its holdings in Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $268.43 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The business has a 50-day moving average price of $289.30 and a 200 day moving average price of $303.94. The firm has a market cap of $39.78 billion, a PE ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is currently 6.63%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PWR. B. Riley reaffirmed a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.79.

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.