Foster Dykema Cabot & Partners LLC Has $35.85 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Foster Dykema Cabot & Partners LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 113,428 shares of the construction company’s stock after purchasing an additional 2,495 shares during the quarter. Quanta Services makes up approximately 2.8% of Foster Dykema Cabot & Partners LLC’s portfolio, making the stock its 8th largest holding. Foster Dykema Cabot & Partners LLC’s holdings in Quanta Services were worth $35,849,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after acquiring an additional 161,277 shares during the period. Geode Capital Management LLC lifted its stake in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. boosted its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after buying an additional 68,565 shares during the last quarter. Norges Bank purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $544,937,000. Finally, Bank of New York Mellon Corp grew its position in Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after buying an additional 45,486 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PWR shares. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Piper Sandler initiated coverage on shares of Quanta Services in a report on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 target price for the company. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services Price Performance

Quanta Services stock opened at $269.72 on Thursday. The firm’s fifty day moving average is $265.12 and its 200 day moving average is $301.99. Quanta Services, Inc. has a 52-week low of $227.08 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 company has a market cap of $39.97 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Sell-side analysts forecast 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 was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. 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.