Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,327 shares of the construction company's stock after acquiring an additional 1,575 shares during the quarter. Cerity Partners LLC owned about 0.09% of Quanta Services worth $35,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Brighton Jones LLC purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $298,000. HighTower Advisors LLC lifted its position in shares of Quanta Services by 11.8% in the fourth quarter. HighTower Advisors LLC now owns 110,283 shares of the construction company's stock valued at $34,855,000 after acquiring an additional 11,659 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Quanta Services by 4.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,630 shares of the construction company's stock valued at $1,779,000 after acquiring an additional 258 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Quanta Services by 20.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 15,006 shares of the construction company's stock valued at $4,743,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $495,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PWR. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a report on Wednesday, July 2nd. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $353.35.

Quanta Services Trading Up 0.4%

Shares of PWR traded up $1.57 during midday trading on Monday, hitting $385.35. 124,898 shares of the stock were exchanged, compared to its average volume of 1,451,071. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $388.01. The stock has a fifty day simple moving average of $355.23 and a 200 day simple moving average of $310.23. The firm has a market cap of $57.13 billion, a P/E ratio of 62.15, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 EPS. Quanta Services's revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's payout ratio is 6.45%.

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.