Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,291 shares of the construction company's stock after purchasing an additional 3,333 shares during the period. Cibc World Markets Corp's holdings in Quanta Services were worth $7,361,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing 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

PWR stock traded down $2.67 during midday trading on Friday, reaching $268.43. The company had a trading volume of 1,606,022 shares, compared to its average volume of 1,756,634. 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 stock has a 50 day moving average price of $289.30 and a 200 day moving average price of $303.94. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market capitalization of $39.78 billion, a PE ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10.

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Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $6.61 billion. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services's payout ratio is 6.63%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $326.79.

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.