Vanguard Group Inc. Buys 161,277 Shares of Quanta Services, Inc. (NYSE:PWR)

Vanguard Group Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 17,009,421 shares of the construction company’s stock after purchasing an additional 161,277 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Quanta Services worth $5,375,828,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Napatree Capital LLC purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $228,000. LPL Financial LLC raised its stake in shares of Quanta Services by 24.8% during the fourth quarter. LPL Financial LLC now owns 200,147 shares of the construction company’s stock worth $63,256,000 after acquiring an additional 39,764 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $1,461,000. KLP Kapitalforvaltning AS purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $28,034,000. Finally, Knights of Columbus Asset Advisors LLC raised its stake in shares of Quanta Services by 0.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company’s stock worth $4,256,000 after acquiring an additional 41 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PWR. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Performance

Shares of PWR stock opened at $268.43 on Monday. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock has a market cap of $39.78 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. 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 company’s fifty day moving average price is $289.30 and its 200-day moving average price is $304.61.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s payout ratio is 6.63%.

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.