Caprock Group LLC Buys New Stake in Quanta Services, Inc. (NYSE:PWR)

Caprock Group LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 39,415 shares of the construction company's stock, valued at approximately $12,457,000.

A number of other large investors have also added to or reduced their stakes in PWR. Creative Planning lifted its stake in shares of Quanta Services by 8.9% in the second quarter. Creative Planning now owns 20,700 shares of the construction company's stock worth $5,260,000 after buying an additional 1,694 shares in the last quarter. NewEdge Advisors LLC lifted its position in Quanta Services by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 8,806 shares of the construction company's stock valued at $2,238,000 after acquiring an additional 714 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Quanta Services by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,525 shares of the construction company's stock valued at $2,166,000 after purchasing an additional 300 shares during the last quarter. Regal Investment Advisors LLC purchased a new stake in Quanta Services during the 2nd quarter valued at $206,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Quanta Services in the second quarter worth $10,183,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Northland Securities reissued an "outperform" rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $330.50.

Quanta Services Price Performance

Shares of Quanta Services stock traded down $1.97 on Tuesday, hitting $299.85. 1,095,721 shares of the company traded hands, compared to its average volume of 1,449,304. Quanta Services, Inc. has a 52 week low of $200.23 and a 52 week high of $365.88. The business has a 50-day simple moving average of $327.77 and a 200 day simple moving average of $301.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $44.26 billion, a P/E ratio of 55.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's payout ratio is currently 7.38%.

Quanta Services Company 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.