Equitable Trust Co. Invests $206,000 in Quanta Services, Inc. (NYSE:PWR)

Equitable Trust Co. bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 653 shares of the construction company’s stock, valued at approximately $206,000.

Other hedge funds have also bought and sold shares of the company. Alkeon Capital Management LLC grew its stake in shares of 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 acquiring an additional 250,000 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Quanta Services in the fourth quarter worth approximately $46,364,000. International Assets Investment Management LLC increased its stake in shares of 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 purchasing an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of 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 purchasing an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. purchased a new position in shares of Quanta Services during the 3rd quarter valued at $27,430,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $302.45 on Wednesday. The firm has a market capitalization of $44.64 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business has a 50 day simple moving average of $323.25 and a 200-day simple moving average of $303.98. Quanta Services, Inc. has a 1 year low of $205.82 and a 1 year high of $365.88.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets began coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price objective on the stock. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. UBS Group upped their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their target price 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. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price 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.