Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 48.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,880 shares of the construction company's stock after acquiring an additional 1,600 shares during the quarter. Investment Management Corp of Ontario's holdings in Quanta Services were worth $1,455,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PWR. Valley Wealth Managers Inc. purchased a new position in Quanta Services in the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services during the second quarter worth approximately $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Quanta Services during the second quarter worth approximately $38,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Quanta Services during the third quarter worth approximately $41,000. Finally, Eastern Bank purchased a new position in shares of Quanta Services during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock traded down $2.61 during trading on Friday, hitting $332.36. The stock had a trading volume of 1,081,065 shares, compared to its average volume of 894,853. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $49.06 billion, a price-to-earnings ratio of 61.34 and a beta of 1.03. The company's 50 day moving average price is $318.96 and its two-hundred day moving average price is $284.83. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The firm's revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PWR shares. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 target price on the stock. Northland Securities reiterated an "outperform" rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $316.81.

Quanta Services 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.