IFM Investors Pty Ltd Raises Stake in Quanta Services, Inc. (NYSE:PWR)

IFM Investors Pty Ltd lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,663 shares of the construction company's stock after acquiring an additional 2,654 shares during the quarter. IFM Investors Pty Ltd's holdings in Quanta Services were worth $7,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the 4th quarter worth about $25,000. Quarry LP purchased a new stake in Quanta Services in the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its position in Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $42,000. Finally, Sound Income Strategies LLC raised its position in shares of Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PWR shares. Evercore ISI upped their price target on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Citigroup decreased their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Argus set a $375.00 target price on shares of Quanta Services in a research note on Monday, May 5th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average target price of $350.95.

Quanta Services Stock Performance

Shares of PWR stock traded down $1.33 on Monday, reaching $385.18. The stock had a trading volume of 839,632 shares, compared to its average volume of 1,086,091. 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, Inc. has a 1 year low of $227.08 and a 1 year high of $388.00. The stock has a market cap of $57.11 billion, a P/E ratio of 62.13, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The company has a 50 day simple moving average of $349.35 and a 200 day simple moving average of $308.81.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (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 business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the firm posted $1.41 earnings per share. The business's revenue for the quarter was up 23.9% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

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.