Retirement Systems of Alabama Purchases 363 Shares of Quanta Services, Inc. (NYSE:PWR)

Retirement Systems of Alabama boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,655 shares of the construction company’s stock after purchasing an additional 363 shares during the period. Retirement Systems of Alabama’s holdings in Quanta Services were worth $9,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Quanta Services by 26.1% during the second quarter. Blue Trust Inc. now owns 841 shares of the construction company’s stock valued at $219,000 after buying an additional 174 shares during the last quarter. Raymond James & Associates boosted its holdings in Quanta Services by 9.3% during the 2nd quarter. Raymond James & Associates now owns 208,527 shares of the construction company’s stock valued at $52,985,000 after acquiring an additional 17,737 shares during the period. Nisa Investment Advisors LLC grew its position in Quanta Services by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 43,141 shares of the construction company’s stock valued at $10,962,000 after acquiring an additional 750 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Quanta Services by 9.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 83,018 shares of the construction company’s stock worth $21,094,000 after purchasing an additional 6,994 shares during the period. Finally, Carnegie Investment Counsel lifted its position in shares of Quanta Services by 5.4% during the second quarter. Carnegie Investment Counsel now owns 1,950 shares of the construction company’s stock worth $495,000 after purchasing an additional 100 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. UBS Group increased their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $321.69.

Quanta Services Stock Up 1.5 %

NYSE:PWR opened at $342.51 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $50.56 billion, a P/E ratio of 63.19 and a beta of 1.03. The company’s 50-day simple moving average is $323.42 and its 200-day simple moving average is $287.66. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Quanta Services 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.