Caprock Group LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Caprock Group LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 39,415 shares of the construction company’s stock, valued at approximately $12,457,000.

A number of other institutional investors have also modified their holdings of PWR. Creative Planning increased its holdings in shares of Quanta Services by 8.9% in the 2nd quarter. Creative Planning now owns 20,700 shares of the construction company’s stock valued at $5,260,000 after acquiring an additional 1,694 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Quanta Services by 8.8% in the 2nd quarter. NewEdge Advisors LLC now owns 8,806 shares of the construction company’s stock valued at $2,238,000 after acquiring an additional 714 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Quanta Services by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,525 shares of the construction company’s stock valued at $2,166,000 after acquiring an additional 300 shares during the period. Regal Investment Advisors LLC acquired a new position in Quanta Services in the 2nd quarter valued at $206,000. Finally, Sanctuary Advisors LLC acquired a new position in Quanta Services in the 2nd quarter valued at $10,183,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Stock Up 2.1 %

PWR opened at $315.92 on Friday. The firm has a 50 day moving average price of $329.27 and a 200 day moving average price of $300.65. The company has a market cap of $46.63 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. Quanta Services, Inc. has a 1 year low of $193.52 and a 1 year high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 7.38%.

Quanta Services 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.