Cibc World Market Inc. Purchases 19,396 Shares of Quanta Services, Inc. (NYSE:PWR)

Cibc World Market Inc. grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,183 shares of the construction company's stock after purchasing an additional 19,396 shares during the period. Cibc World Market Inc. owned approximately 0.07% of Quanta Services worth $33,559,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Alkeon Capital Management LLC grew its position in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after buying an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Quanta Services during the fourth quarter valued at approximately $46,364,000. International Assets Investment Management LLC lifted its position in Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock worth $44,269,000 after purchasing an additional 147,980 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock worth $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Quanta Services in the third quarter valued at $27,430,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PWR shares. TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price target on Quanta Services from $374.00 to $388.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Finally, Daiwa Capital Markets initiated coverage on shares of Quanta Services in a report on Friday, December 6th. They set an "outperform" rating and a $355.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $330.50.

Quanta Services Price Performance

PWR traded down $0.04 during midday trading on Tuesday, reaching $301.78. 560,805 shares of the company's stock were exchanged, compared to its average volume of 1,424,537. 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 has a 50-day simple moving average of $327.77 and a two-hundred day simple moving average of $301.96. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 55.68, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. Quanta Services, Inc. has a one year low of $200.23 and a one year high of $365.88.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio (DPR) is 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.