1,200 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,200 shares of the construction company’s stock, valued at approximately $379,000.

Other large investors have also bought and sold shares of the company. Webster Bank N. A. grew its position 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 worth $26,000 after acquiring an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC grew its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. UBS Group increased their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $330.06.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $293.72 on Wednesday. The company has a market capitalization of $43.36 billion, a PE ratio of 54.19 and a beta of 1.06. Quanta Services, Inc. has a 12 month low of $193.52 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 stock’s fifty day simple moving average is $330.55 and its 200 day simple moving average is $300.60.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. On average, research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.