Public Employees Retirement System of Ohio Has $18.69 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Public Employees Retirement System of Ohio reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,677 shares of the construction company's stock after selling 5,617 shares during the period. Public Employees Retirement System of Ohio's holdings in Quanta Services were worth $18,687,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PWR. Legacy Investment Solutions LLC bought a new position in Quanta Services during the 3rd quarter worth $31,000. Valley Wealth Managers Inc. bought a new stake in Quanta Services in the 2nd quarter valued at about $33,000. Quest Partners LLC bought a new position in Quanta Services in the 2nd quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $38,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter valued at approximately $41,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 4.5 %

NYSE PWR traded up $14.35 on Wednesday, hitting $334.25. 1,254,144 shares of the company were exchanged, compared to its average volume of 897,111. The company's 50 day moving average price is $321.32 and its 200-day moving average price is $286.38. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $49.34 billion, a P/E ratio of 61.67 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $2.08 earnings per share. Analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services's payout ratio is currently 7.38%.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $321.69.

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.