Cerity Partners LLC Grows Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cerity Partners LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,752 shares of the construction company’s stock after acquiring an additional 2,867 shares during the quarter. Cerity Partners LLC’s holdings in Quanta Services were worth $43,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Sierra Summit Advisors LLC grew its holdings in shares of Quanta Services by 11.8% in the fourth quarter. Sierra Summit Advisors LLC now owns 39,671 shares of the construction company’s stock worth $12,538,000 after purchasing an additional 4,172 shares during the last quarter. Polymer Capital Management HK LTD purchased a new stake in Quanta Services during the 4th quarter valued at $1,264,000. Aster Capital Management DIFC Ltd increased its position in shares of Quanta Services by 74.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 305 shares of the construction company’s stock valued at $96,000 after acquiring an additional 130 shares during the period. Waterloo Capital L.P. raised its stake in shares of Quanta Services by 5.1% during the fourth quarter. Waterloo Capital L.P. now owns 5,711 shares of the construction company’s stock valued at $1,805,000 after acquiring an additional 278 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Quanta Services by 0.5% during the fourth quarter. Russell Investments Group Ltd. now owns 69,126 shares of the construction company’s stock worth $21,926,000 after purchasing an additional 378 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

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

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate 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 anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PWR shares. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Roth Mkm started coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. 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 research note on Wednesday, March 19th. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.