ProShare Advisors LLC Buys 2,703 Shares of Quanta Services, Inc. (NYSE:PWR)

ProShare Advisors LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,370 shares of the construction company's stock after acquiring an additional 2,703 shares during the quarter. ProShare Advisors LLC's holdings in Quanta Services were worth $6,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after acquiring an additional 29 shares during the period. Commonwealth Financial Services LLC boosted its stake in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC boosted its stake in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after purchasing an additional 31 shares during the period. Moody Lynn & Lieberson LLC boosted its stake in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after purchasing an additional 32 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock worth $144,000 after purchasing an additional 33 shares during the period. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Evercore ISI raised their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Roth Mkm started coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. Finally, Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $344.35.

Quanta Services Price Performance

Shares of NYSE PWR traded up $4.59 during trading hours on Friday, reaching $335.42. 932,410 shares of the stock traded hands, compared to its average volume of 1,582,542. The company has a market capitalization of $49.73 billion, a P/E ratio of 55.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company's 50-day simple moving average is $289.31 and its two-hundred day simple moving average is $302.80.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 0.12%. 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.