4,295 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Allstate Corp

Allstate Corp purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,295 shares of the construction company's stock, valued at approximately $1,357,000.

A number of other large investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. grew its stake in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its position in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after buying an additional 29 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after buying an additional 31 shares during the period. Moody Lynn & Lieberson LLC lifted its stake in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC boosted its holdings in Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PWR shares. Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 target price for the company. Finally, B. Riley reissued a "neutral" rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $326.79.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $12.54 on Friday, hitting $239.50. 2,086,855 shares of the company's stock were exchanged, compared to its average volume of 1,702,882. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market capitalization of $35.49 billion, a PE ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a 50-day simple moving average of $273.15 and a 200-day simple moving average of $304.00.

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

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. Quanta Services's payout ratio is currently 6.63%.

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.