Cary Street Partners Financial LLC Purchases Shares of 33,175 Quanta Services, Inc. (NYSE:PWR)

Cary Street Partners Financial LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 33,175 shares of the construction company's stock, valued at approximately $10,485,000.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. Vanguard Group Inc. increased its position in 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 buying an additional 161,277 shares during the period. Capital World Investors raised 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 purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 99,416 shares during the last quarter. Invesco Ltd. increased its stake in 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 purchasing an additional 68,565 shares during the period. Finally, Norges Bank acquired a new stake in shares of Quanta Services during the fourth quarter worth about $544,937,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 1.0 %

Shares of Quanta Services stock traded up $3.26 during mid-day trading on Thursday, hitting $326.85. 1,169,216 shares of the stock were exchanged, compared to its average volume of 1,626,422. The company has a 50-day simple moving average of $270.01 and a 200 day simple moving average of $300.59. 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 stock has a market capitalization of $48.46 billion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Quanta Services's revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date 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 presently 6.45%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PWR. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday. DA Davidson raised their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target on the stock. Finally, Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $344.35.

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.