California State Teachers Retirement System Has $71.94 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

California State Teachers Retirement System lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 227,611 shares of the construction company's stock after selling 9,199 shares during the period. California State Teachers Retirement System owned 0.15% of Quanta Services worth $71,936,000 as of its most recent filing with the SEC.

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

Quanta Services Stock Down 0.3 %

Shares of Quanta Services stock traded down $0.89 during midday trading on Friday, hitting $321.04. The company's stock had a trading volume of 2,062,545 shares, compared to its average volume of 1,651,828. The firm has a market capitalization of $47.60 billion, a P/E ratio of 53.24, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $264.93 and a 200-day simple moving average of $300.35.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is currently 6.63%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Truist Financial cut their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus target price of $330.80.

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.