Ferguson Wellman Capital Management Inc. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Ferguson Wellman Capital Management Inc. bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 932 shares of the construction company's stock, valued at approximately $237,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Quanta Services during the fourth quarter worth approximately $25,000. Quarry LP acquired a new position in shares of Quanta Services during the fourth quarter worth $26,000. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of Quanta Services during the fourth quarter worth $34,000. Finally, Rakuten Securities Inc. lifted its position in shares of Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PWR shares. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. DA Davidson upped their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. Finally, Citigroup cut their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Price Performance

Shares of PWR stock traded down $0.79 during mid-day trading on Friday, hitting $357.86. 796,164 shares of the stock traded hands, compared to its average volume of 1,505,997. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of 59.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company's 50-day simple moving average is $316.61 and its 200-day simple moving average is $304.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results 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 return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 EPS. The company's quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend 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.