Cerity Partners LLC Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Cerity Partners LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,752 shares of the construction company’s stock after buying an additional 2,867 shares during the period. Cerity Partners LLC owned approximately 0.09% of Quanta Services worth $43,060,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PWR. Vanguard Group Inc. grew its stake in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the period. Geode Capital Management LLC grew its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after buying an additional 99,416 shares during the period. Norges Bank purchased a new stake in Quanta Services during the fourth quarter worth about $544,937,000. Bank of New York Mellon Corp raised its position in Quanta Services by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after acquiring an additional 45,486 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Quanta Services by 4.4% in the fourth quarter. Franklin Resources Inc. now owns 970,722 shares of the construction company’s stock valued at $306,797,000 after acquiring an additional 41,309 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Stock Up 2.3 %

PWR stock opened at $245.07 on Tuesday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $272.20 and its 200 day moving average is $304.12.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.63%.

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.