Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 1,567 Quanta Services, Inc. (NYSE:PWR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,567 shares of the construction company's stock, valued at approximately $495,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Webster Bank N. A. boosted its stake 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 valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter worth $30,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 5.7 %

Shares of Quanta Services stock traded down $15.80 on Wednesday, reaching $260.45. 1,513,599 shares of the company's stock were exchanged, compared to its average volume of 1,731,424. The company has a market capitalization of $38.60 billion, a P/E ratio of 43.19, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm's 50-day moving average is $287.74 and its two-hundred day moving average is $305.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PWR shares. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating on the stock. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Stifel Nicolaus reduced their target price on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Citigroup decreased their price target on shares of 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 investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $326.79.

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.