Quanta Services, Inc. (NYSE:PWR) Stock Holdings Boosted by Cynosure Group LLC

Key Points

• Cynosure Group LLC increased its holdings in Quanta Services by 53.9%, owning 2,725 shares worth approximately $693,000 as of the most recent SEC filing.
• Quanta Services reported earnings of $2.48 per share for the last quarter, which surpassed analyst expectations, while revenue increased by 21.1% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1%.

Cynosure Group LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 53.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,725 shares of the construction company's stock after acquiring an additional 954 shares during the period. Cynosure Group LLC's holdings in Quanta Services were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Capital World Investors lifted its holdings in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. Bank of America Corp DE raised its holdings in Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Northern Trust Corp raised its holdings in Quanta Services by 18.5% during the fourth quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after purchasing an additional 232,375 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after purchasing an additional 82,981 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $7.43 during trading on Tuesday, hitting $391.55. 858,704 shares of the company traded hands, compared to its average volume of 1,425,696. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 2.30 and a beta of 1.10. The business's fifty day moving average is $381.01 and its 200-day moving average is $320.39. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $1.90 EPS. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Citigroup boosted 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. TD Cowen upped their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Stifel Nicolaus boosted their price target on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $392.45.

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.