Quanta Services, Inc. (NYSE:PWR) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,404 shares of the construction company's stock after acquiring an additional 992 shares during the period. CIBC Asset Management Inc's holdings in Quanta Services were worth $7,081,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in Quanta Services during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter worth $30,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR traded down $11.41 during trading hours on Friday, reaching $269.75. 3,467,677 shares of the company traded hands, compared to its average volume of 1,735,450. The stock has a market capitalization of $39.82 billion, a P/E ratio of 44.73, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $316.02 and a 200-day moving average price of $305.18. Quanta Services, Inc. has a 12-month low of $221.07 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share 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 for the quarter, compared to the consensus estimate of $6.61 billion. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 price objective for the company. BMO Capital Markets started coverage on shares of Quanta Services in a research report on Monday, February 3rd. They issued an "outperform" rating and a $338.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Daiwa America raised Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $331.53.

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.