Geode Capital Management LLC Purchases 99,416 Shares of Quanta Services, Inc. (NYSE:PWR)

Geode Capital Management LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,558,827 shares of the construction company’s stock after buying an additional 99,416 shares during the period. Geode Capital Management LLC’s holdings in Quanta Services were worth $1,121,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Paloma Partners Management Co grew its stake in shares of Quanta Services by 139.3% in the third quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock valued at $203,000 after acquiring an additional 397 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $511,000. Janus Henderson Group PLC increased its holdings in shares of Quanta Services by 4.9% during the third quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock worth $5,134,000 after purchasing an additional 800 shares during the period. Investment Management Corp of Ontario raised its position in shares of Quanta Services by 48.8% in the third quarter. Investment Management Corp of Ontario now owns 4,880 shares of the construction company’s stock valued at $1,455,000 after buying an additional 1,600 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Quanta Services by 328.7% during the third quarter. Integrated Wealth Concepts LLC now owns 21,644 shares of the construction company’s stock worth $6,453,000 after buying an additional 16,595 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PWR. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Seven research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Performance

NYSE:PWR opened at $257.64 on Wednesday. The stock’s 50-day moving average is $279.42 and its 200-day moving average is $304.87. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. 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 stock has a market cap of $38.18 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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

Quanta Services Dividend Announcement

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