Quanta Services, Inc. (NYSE:PWR) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 95,233 shares of the construction company's stock after selling 11,372 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Quanta Services worth $30,098,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PWR. Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at $544,937,000. Raymond James Financial Inc. purchased a new position in shares of Quanta Services during the fourth quarter worth about $203,068,000. Proficio Capital Partners LLC acquired a new position in Quanta Services in the 4th quarter valued at about $53,949,000. Vanguard Group Inc. raised 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 acquiring an additional 161,277 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Quanta Services during the 4th quarter worth approximately $46,364,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. The Goldman Sachs Group lowered their price objective on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a report on Thursday. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They issued a "buy" rating and a $407.00 price target for the company. Finally, BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.15.

Quanta Services Price Performance

Shares of NYSE PWR traded up $8.17 during trading on Thursday, reaching $282.48. The company had a trading volume of 1,606,114 shares, compared to its average volume of 1,646,520. 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 twelve month low of $227.08 and a twelve month high of $365.88. The stock has a 50-day moving average price of $261.88 and a two-hundred day moving average price of $300.80. The stock has a market capitalization of $41.88 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (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 for 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 year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services's dividend payout ratio (DPR) 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.