Syon Capital LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Syon Capital LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 792 shares of the construction company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Webster Bank N. A. boosted its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter worth about $27,000. Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc increased its holdings in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 2.0 %

Shares of NYSE PWR opened at $287.64 on Friday. The firm has a 50 day moving average price of $261.85 and a two-hundred day moving average price of $300.49. The stock has a market cap of $42.65 billion, a P/E ratio of 47.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 6.63%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PWR. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Truist Financial decreased their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.70.

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.