Saxon Interests Inc. Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Saxon Interests Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,541 shares of the construction company’s stock after selling 821 shares during the period. Saxon Interests Inc.’s holdings in Quanta Services were worth $1,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services in the third quarter valued at $30,000. Versant Capital Management Inc lifted its holdings in shares of Quanta Services by 62.5% in 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. Quest Partners LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth about $35,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Quanta Services during the 3rd quarter valued at about $41,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus increased their target price on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Trading Up 2.0 %

Shares of NYSE PWR opened at $335.92 on Friday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The business has a fifty day moving average price of $329.23 and a 200 day moving average price of $295.52. The stock has a market capitalization of $49.59 billion, a P/E ratio of 61.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

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.