Cerity Partners LLC Buys 83,390 Shares of Quanta Services, Inc. (NYSE:PWR)

Cerity Partners LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 165.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 133,885 shares of the construction company’s stock after purchasing an additional 83,390 shares during the period. Cerity Partners LLC’s holdings in Quanta Services were worth $39,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new stake in Quanta Services in the 1st quarter valued at $25,000. Quadrature Capital Ltd bought a new stake in Quanta Services in the 1st quarter valued at $1,128,000. LRI Investments LLC bought a new stake in Quanta Services in the 1st quarter valued at $80,000. Lazard Asset Management LLC increased its holdings in Quanta Services by 71,012.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock valued at $1,478,000 after buying an additional 5,681 shares during the period. Finally, BOKF NA increased its holdings in Quanta Services by 25.4% in the 1st quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWR shares. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group boosted their target price 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. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.6 %

Shares of NYSE PWR opened at $341.92 on Friday. The firm’s 50-day simple moving average is $309.24 and its 200 day simple moving average is $280.17. The company has a market cap of $50.47 billion, a price-to-earnings ratio of 63.08 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $343.70.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is currently 6.64%.

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.