Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 22.3% during the 4th quarter, HoldingsChannel reports. The firm owned 106,183 shares of the construction company’s stock after buying an additional 19,396 shares during the period. Cibc World Market Inc.’s holdings in Quanta Services were worth $33,559,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PWR. State Street Corp lifted its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after acquiring an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after acquiring an additional 43,715 shares during the period. Swedbank AB boosted its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Quanta Services by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock worth $253,063,000 after purchasing an additional 11,565 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.06.

Quanta Services Stock Down 0.4 %

Quanta Services stock opened at $308.10 on Friday. The firm has a market capitalization of $45.48 billion, a P/E ratio of 56.85, a P/E/G ratio of 1.49 and a beta of 1.06. The stock’s fifty day simple moving average is $328.59 and its 200-day simple moving average is $301.01. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve 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.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company earned $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal 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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

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.