Cetera Investment Advisers Purchases Shares of 47,876 Quanta Services, Inc. (NYSE:PWR)

Cetera Investment Advisers purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,876 shares of the construction company's stock, valued at approximately $12,169,000.

Other hedge funds have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth about $25,000. Quarry LP purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the first quarter worth approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the first quarter worth approximately $42,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock traded down $10.95 during trading on Friday, hitting $395.18. The stock had a trading volume of 2,094,000 shares, compared to its average volume of 1,447,719. The company's 50 day moving average price is $374.19 and its two-hundred day moving average price is $318.48. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The stock has a market cap of $58.59 billion, a price-to-earnings ratio of 63.74, a price-to-earnings-growth ratio of 2.83 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 announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted $1.90 EPS. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were issued a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research note on Monday. DA Davidson increased their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $379.32.

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.