Healthcare of Ontario Pension Plan Trust Fund Has $5.14 Million Position in Quanta Services, Inc. (NYSE:PWR)

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 591.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,252 shares of the construction company’s stock after purchasing an additional 14,757 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Quanta Services were worth $5,144,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Janus Henderson Group PLC lifted its position in Quanta Services by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock valued at $5,469,000 after acquiring an additional 201 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Quanta Services by 37.9% in the first quarter. iA Global Asset Management Inc. now owns 2,165 shares of the construction company’s stock valued at $562,000 after purchasing an additional 595 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after buying an additional 21,003 shares during the period. Cetera Advisors LLC grew its holdings in shares of Quanta Services by 74.2% during the first quarter. Cetera Advisors LLC now owns 19,352 shares of the construction company’s stock worth $5,028,000 after buying an additional 8,246 shares in the last quarter. Finally, Cambridge Trust Co. bought a new stake in Quanta Services in the 1st quarter valued at approximately $26,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Up 0.2 %

Shares of PWR opened at $344.52 on Friday. The firm’s 50-day simple moving average is $314.64 and its 200 day simple moving average is $282.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $50.86 billion, a P/E ratio of 63.56 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $186.18 and a 52 week high of $350.19.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company earned $2.08 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.