Vanguard Group Inc. Acquires 161,277 Shares of Quanta Services, Inc. (NYSE:PWR)

Vanguard Group Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,009,421 shares of the construction company’s stock after buying an additional 161,277 shares during the period. Vanguard Group Inc. owned about 11.52% of Quanta Services worth $5,375,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its stake in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after purchasing an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $1,754,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PWR. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Price Performance

PWR stock opened at $268.43 on Monday. The firm has a 50 day moving average of $289.30 and a 200-day moving average of $304.61. 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, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The firm has a market capitalization of $39.78 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is presently 6.63%.

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.