Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Quanta Services, Inc. (NYSE:PWR) by 12.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 230,145 shares of the construction company’s stock after purchasing an additional 24,919 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Quanta Services were worth $68,618,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC purchased a new position in Quanta Services in the first quarter valued at about $25,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services during the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services during the second quarter worth approximately $33,000. Quest Partners LLC acquired a new stake in Quanta Services during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on PWR shares. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. B. Riley lifted their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $343.83 on Thursday. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $50.75 billion, a PE ratio of 63.44 and a beta of 1.01. The company’s 50-day moving average price is $312.12 and its two-hundred day moving average price is $281.41.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for 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 business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

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.