UniSuper Management Pty Ltd Buys 4,309 Shares of Quanta Services, Inc. (NYSE:PWR)

UniSuper Management Pty Ltd raised its stake in Quanta Services, Inc. (NYSE:PWR) by 300.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,742 shares of the construction company’s stock after acquiring an additional 4,309 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Quanta Services were worth $1,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PWR. Artisan Partners Limited Partnership raised its holdings in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new stake in Quanta Services during the 4th quarter valued at approximately $335,777,000. Public Employees Retirement Association of Colorado increased its position in Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after purchasing an additional 1,052,496 shares during the period. Capital World Investors increased its position in Quanta Services by 11.6% during the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares during the period. Finally, Corient Private Wealth LLC increased its position in Quanta Services by 797.6% during the 4th quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock valued at $132,487,000 after purchasing an additional 545,534 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PWR shares. The Goldman Sachs Group increased their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Citigroup increased their target price on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday. Argus increased their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. DA Davidson raised their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.75.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $3.29 during midday trading on Tuesday, reaching $264.42. 958,268 shares of the company’s stock traded hands, compared to its average volume of 948,413. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The stock has a 50 day moving average of $267.73 and a 200 day moving average of $246.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $38.71 billion, a price-to-earnings ratio of 51.24 and a beta of 1.03.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

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.