Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 230,145 shares of the construction company's stock after purchasing an additional 24,919 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of Quanta Services worth $68,618,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after buying an additional 2,092,519 shares during the period. American Century Companies Inc. lifted its position in 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. National Bank of Canada FI grew its holdings in shares of Quanta Services by 297.3% in the second 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 last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock worth $39,018,000 after buying an additional 150,361 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target on the stock. Citigroup upped their price target on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, October 4th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective on the stock. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. Finally, Northland Securities reissued an "outperform" rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $314.27.

Quanta Services Stock Down 0.8 %

Shares of PWR traded down $2.66 during mid-day trading on Thursday, reaching $343.94. The company had a trading volume of 534,544 shares, compared to its average volume of 895,411. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $350.19. 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 company has a market capitalization of $50.77 billion, a price-to-earnings ratio of 63.44 and a beta of 1.01. The firm has a 50-day moving average price of $313.56 and a 200 day moving average price of $281.85.

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

Quanta Services Increases Dividend

The company also recently declared 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. 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's dividend payout ratio is presently 6.64%.

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.