Zevenbergen Capital Investments LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Zevenbergen Capital Investments LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 97,765 shares of the construction company's stock, valued at approximately $30,899,000. Zevenbergen Capital Investments LLC owned 0.07% of Quanta Services as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB lifted its stake in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after buying an additional 42,579 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Quanta Services by 7.4% during the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company's stock worth $799,000 after acquiring an additional 185 shares in the last quarter. Commerce Bank boosted its holdings in shares of Quanta Services by 4.2% in the third quarter. Commerce Bank now owns 5,447 shares of the construction company's stock worth $1,624,000 after acquiring an additional 220 shares during the period. Raymond James Trust N.A. grew its position in shares of Quanta Services by 25.5% in the third quarter. Raymond James Trust N.A. now owns 4,408 shares of the construction company's stock valued at $1,314,000 after purchasing an additional 897 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Quanta Services by 165.1% during the 3rd quarter. Cerity Partners LLC now owns 133,885 shares of the construction company's stock valued at $39,918,000 after purchasing an additional 83,390 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of research firms have weighed in on PWR. B. Riley reaffirmed a "neutral" rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Stifel Nicolaus reduced their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $326.79.

Quanta Services Trading Down 0.3 %

Shares of PWR traded down $0.71 during trading hours on Friday, hitting $254.17. The company had a trading volume of 1,150,073 shares, compared to its average volume of 1,724,061. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average price is $283.07 and its 200 day moving average price is $304.37. The firm has a market cap of $37.67 billion, a P/E ratio of 42.15, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

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.