BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $29.46 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,225 shares of the construction company’s stock after selling 18,194 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Quanta Services worth $29,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 buying an additional 161,277 shares during the period. Capital World Investors boosted its position in 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 last quarter. Geode Capital Management LLC grew its holdings in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after acquiring an additional 99,416 shares during the period. Invesco Ltd. raised its position in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Quanta Services in the 4th quarter valued at about $544,937,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Bank of America began coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. DA Davidson increased their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Citigroup decreased their price target on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Stock Performance

Shares of PWR opened at $341.50 on Thursday. The stock has a 50 day moving average of $286.60 and a 200 day moving average of $302.53. The company has a market capitalization of $50.63 billion, a price-to-earnings ratio of 56.63, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month 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.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.45%.

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.