Public Sector Pension Investment Board Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Public Sector Pension Investment Board grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 81.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 279,089 shares of the construction company's stock after acquiring an additional 125,530 shares during the period. Public Sector Pension Investment Board owned about 0.19% of Quanta Services worth $83,210,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Electron Capital Partners LLC boosted its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. American Century Companies Inc. boosted its stake in shares of Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after purchasing an additional 369,581 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares in the last quarter. National Bank of Canada FI increased its holdings in Quanta Services by 297.3% during the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock worth $53,455,000 after purchasing an additional 161,574 shares during the period. Finally, International Assets Investment Management LLC raised its position in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock valued at $44,269,000 after purchasing an additional 147,980 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. Jefferies Financial Group initiated 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. Stifel Nicolaus raised their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Northland Securities reiterated an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Citigroup increased their price objective on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $314.27.

Quanta Services Stock Performance

NYSE:PWR traded down $2.66 during trading hours on Thursday, reaching $343.94. 534,544 shares of the company's stock were exchanged, compared to its average volume of 895,411. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $350.19. The firm has a market capitalization of $50.77 billion, a price-to-earnings ratio of 63.44 and a beta of 1.01. The company has a 50-day moving average of $313.56 and a 200 day moving average of $281.85. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is presently 6.64%.

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.