Verition Fund Management LLC Has $12.78 Million Position in Quanta Services, Inc. (NYSE:PWR)

Verition Fund Management LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,869 shares of the construction company's stock after selling 2,652 shares during the quarter. Verition Fund Management LLC's holdings in Quanta Services were worth $12,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in Quanta Services by 27.8% in the third quarter. Vinva Investment Management Ltd now owns 7,939 shares of the construction company's stock worth $2,356,000 after purchasing an additional 1,728 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after buying an additional 43,715 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock valued at $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Fiduciary Trust Co boosted its stake in shares of Quanta Services by 4.8% during the 3rd quarter. Fiduciary Trust Co now owns 7,784 shares of the construction company's stock worth $2,321,000 after acquiring an additional 353 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PWR. Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price objective on the stock. Robert W. Baird boosted their price objective 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. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Stifel Nicolaus upped their price target 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. Finally, 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 note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Stock Performance

Quanta Services stock traded up $0.58 on Friday, hitting $344.52. The company's stock had a trading volume of 370,777 shares, compared to its average volume of 931,267. The company has a fifty day moving average price of $315.72 and a 200-day moving average price of $282.96. The firm has a market cap of $50.85 billion, a P/E ratio of 63.56 and a beta of 1.01. Quanta Services, Inc. has a one year low of $186.18 and a one year high of $350.19. 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 results 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. The company's quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.12%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services's dividend payout ratio is 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.