Retirement Systems of Alabama Purchases 363 Shares of Quanta Services, Inc. (NYSE:PWR)

Retirement Systems of Alabama increased its position in Quanta Services, Inc. (NYSE:PWR) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,655 shares of the construction company’s stock after acquiring an additional 363 shares during the period. Retirement Systems of Alabama’s holdings in Quanta Services were worth $9,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Quanta Services by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 841 shares of the construction company’s stock worth $219,000 after purchasing an additional 174 shares during the period. Raymond James & Associates raised its position in Quanta Services by 9.3% in the second quarter. Raymond James & Associates now owns 208,527 shares of the construction company’s stock worth $52,985,000 after acquiring an additional 17,737 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Quanta Services by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 43,141 shares of the construction company’s stock worth $10,962,000 after acquiring an additional 750 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Quanta Services by 9.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 83,018 shares of the construction company’s stock worth $21,094,000 after purchasing an additional 6,994 shares during the period. Finally, Carnegie Investment Counsel lifted its position in Quanta Services by 5.4% during the second quarter. Carnegie Investment Counsel now owns 1,950 shares of the construction company’s stock valued at $495,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent research reports. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.69.

Quanta Services Stock Up 1.5 %

NYSE PWR opened at $342.51 on Tuesday. The stock has a 50 day moving average price of $323.42 and a 200-day moving average price of $287.66. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company has a market capitalization of $50.56 billion, a P/E ratio of 63.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 was up 15.5% on a year-over-year basis. During the same period last year, the company posted $2.08 EPS. As a group, equities analysts predict 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. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is 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.