Cerity Partners LLC Has $43.06 Million Position in Quanta Services, Inc. (NYSE:PWR)

Cerity Partners LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,752 shares of the construction company's stock after purchasing an additional 2,867 shares during the quarter. Cerity Partners LLC owned about 0.09% of Quanta Services worth $43,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in shares of Quanta Services by 0.7% in the 4th 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 lifted its stake in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after buying an additional 29 shares during the period. HB Wealth Management LLC boosted its holdings in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after buying an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its position in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after buying an additional 32 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research note on Wednesday. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $319.25.

Quanta Services Stock Performance

Shares of PWR traded up $7.20 during midday trading on Friday, reaching $269.90. The stock had a trading volume of 1,098,254 shares, compared to its average volume of 1,705,356. The firm has a market cap of $40.00 billion, a PE ratio of 44.76, a P/E/G ratio of 1.41 and a beta of 1.04. The firm has a 50 day simple moving average of $267.21 and a 200-day simple moving average of $302.57. Quanta Services, Inc. has a one year low of $227.08 and a one year 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.61 billion. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's payout ratio is presently 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.