Alkeon Capital Management LLC Purchases 51,285 Shares of Quanta Services, Inc. (NYSE:PWR)

Alkeon Capital Management LLC lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 701,285 shares of the construction company's stock after acquiring an additional 51,285 shares during the period. Alkeon Capital Management LLC owned approximately 0.48% of Quanta Services worth $221,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PWR. Vanguard Group Inc. raised its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. Capital World Investors raised its holdings in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares during the period. Geode Capital Management LLC lifted its stake in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after buying an additional 68,565 shares during the period. Finally, Norges Bank bought a new stake in shares of Quanta Services during the fourth quarter worth $544,937,000. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. 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 note on Tuesday, January 28th. Citigroup dropped their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday. Finally, Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $334.60.

Quanta Services Price Performance

NYSE:PWR traded up $2.39 during trading hours on Monday, reaching $323.53. 1,035,585 shares of the company were exchanged, compared to its average volume of 1,644,491. The business has a 50 day moving average of $266.02 and a 200 day moving average of $300.24. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market capitalization of $47.97 billion, a P/E ratio of 53.65, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The business's revenue for the quarter was up 23.9% on a year-over-year basis. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.63%.

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.