Cibc World Market Inc. Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Cibc World Market Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,183 shares of the construction company’s stock after purchasing an additional 19,396 shares during the quarter. Cibc World Market Inc. owned 0.07% of Quanta Services worth $33,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Alkeon Capital Management LLC grew its position in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Quanta Services during the fourth quarter valued at $46,364,000. International Assets Investment Management LLC grew its holdings in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares during the period. Public Sector Pension Investment Board increased its position in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new position in shares of Quanta Services during the 3rd quarter valued at about $27,430,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE:PWR opened at $308.10 on Friday. The company has a 50 day moving average price of $328.59 and a 200-day moving average price of $301.01. Quanta Services, Inc. has a 1-year low of $193.52 and a 1-year high of $365.88. The firm has a market cap of $45.48 billion, a price-to-earnings ratio of 56.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

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

Quanta Services Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.06.

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.