Quanta Services, Inc. (NYSE:PWR) Stake Boosted by Captrust Financial Advisors

Captrust Financial Advisors increased its position in Quanta Services, Inc. (NYSE:PWR) by 35.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,406 shares of the construction company’s stock after acquiring an additional 2,181 shares during the period. Captrust Financial Advisors’ holdings in Quanta Services were worth $2,657,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares during the period. Capital World Investors increased its stake 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 valued at $2,282,978,000 after acquiring an additional 891,977 shares during the period. Geode Capital Management LLC raised its holdings in 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. lifted its position in Quanta Services by 3.7% in 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 during the period. Finally, Norges Bank bought a new position in Quanta Services during the 4th quarter valued at $544,937,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.1%

Shares of NYSE PWR opened at $326.00 on Monday. The firm has a market capitalization of $48.33 billion, a PE ratio of 54.06, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $271.55 and a two-hundred day moving average price of $300.57.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same period last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research analyst reports. Citigroup cut their price objective on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, Stifel Nicolaus lifted their price target on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Six research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.35.

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.