CIBC Asset Management Inc Acquires 1,742 Shares of Quanta Services, Inc. (NYSE:PWR)

CIBC Asset Management Inc lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,412 shares of the construction company's stock after acquiring an additional 1,742 shares during the quarter. CIBC Asset Management Inc's holdings in Quanta Services were worth $6,384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versor Investments LP bought a new position in Quanta Services during the third quarter valued at about $406,000. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock valued at $9,366,000 after purchasing an additional 1,981 shares during the last quarter. Cetera Investment Advisers increased its position in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company's stock worth $10,203,000 after buying an additional 21,003 shares during the last quarter. Czech National Bank raised its stake in shares of Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company's stock valued at $7,071,000 after buying an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Quanta Services by 892.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company's stock valued at $262,000 after buying an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 1.6 %

Shares of NYSE:PWR traded up $5.08 during midday trading on Monday, hitting $328.41. 911,540 shares of the stock traded hands, compared to its average volume of 896,458. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $301.80 and its two-hundred day moving average is $277.83. The stock has a market capitalization of $48.48 billion, a PE ratio of 60.60 and a beta of 1.01. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $335.00.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. The company's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio is currently 6.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PWR shares. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective for the company. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Northland Securities reiterated an "outperform" rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $314.27.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. This represents a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

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.