Lionshead Wealth Management LLC Takes $1.97 Million Position in Quanta Services, Inc. (NYSE:PWR)

Lionshead Wealth Management LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,236 shares of the construction company’s stock, valued at approximately $1,970,000. Quanta Services comprises 1.4% of Lionshead Wealth Management LLC’s portfolio, making the stock its 22nd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the 4th quarter worth $25,000. Quarry LP bought a new stake in Quanta Services during the fourth quarter worth about $26,000. Webster Bank N. A. lifted its position in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter worth about $27,000. Finally, Sound Income Strategies LLC raised its position in shares of 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 buying an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PWR. Citigroup dropped their target price on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $344.35.

Quanta Services Stock Performance

NYSE:PWR opened at $326.00 on Monday. The stock has a market cap of $48.33 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $271.55 and its 200-day moving average is $300.57. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Quanta Services Company 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.