Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1,464.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,577 shares of the construction company's stock after acquiring an additional 20,198 shares during the quarter. Teacher Retirement System of Texas' holdings in Quanta Services were worth $5,484,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Capital World Investors grew its position in shares of Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Invesco Ltd. grew its position in shares of Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Quanta Services during the fourth quarter worth about $544,937,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PWR. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. DA Davidson lifted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Stifel Nicolaus lifted their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $350.95.

Quanta Services Stock Down 0.3%

PWR stock traded down $1.33 on Monday, hitting $385.18. 839,632 shares of the company's stock were exchanged, compared to its average volume of 1,478,668. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $388.00. The firm has a 50 day moving average price of $347.47 and a two-hundred day moving average price of $308.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. 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.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.