Mackenzie Financial Corp Purchases 1,543 Shares of Quanta Services, Inc. (NYSE:PWR)

Mackenzie Financial Corp lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,785 shares of the construction company's stock after buying an additional 1,543 shares during the quarter. Mackenzie Financial Corp's holdings in Quanta Services were worth $3,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Abbot Financial Management Inc. grew its position in shares of Quanta Services by 45.6% during the 1st quarter. Abbot Financial Management Inc. now owns 1,885 shares of the construction company's stock worth $479,000 after buying an additional 590 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Quanta Services during the 1st quarter worth $43,000. LPL Financial LLC grew its position in shares of Quanta Services by 19.2% during the 1st quarter. LPL Financial LLC now owns 238,596 shares of the construction company's stock worth $60,646,000 after buying an additional 38,449 shares in the last quarter. Second Half Financial Partners LLC lifted its stake in shares of Quanta Services by 29.5% during the 1st quarter. Second Half Financial Partners LLC now owns 1,779 shares of the construction company's stock worth $452,000 after purchasing an additional 405 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Quanta Services by 20.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 316,752 shares of the construction company's stock worth $80,512,000 after purchasing an additional 53,614 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $395.18 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.26. The business's 50 day moving average price is $375.39 and its 200-day moving average price is $318.93. The firm has a market capitalization of $58.59 billion, a PE ratio of 61.17, a P/E/G ratio of 2.72 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business's revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is currently 6.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PWR shares. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Citigroup lifted their price target on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $379.32.

About Quanta Services

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.