CIBC Asset Management Inc Has $7.08 Million Position in Quanta Services, Inc. (NYSE:PWR)

CIBC Asset Management Inc raised its position in Quanta Services, Inc. (NYSE:PWR) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,404 shares of the construction company’s stock after purchasing an additional 992 shares during the period. CIBC Asset Management Inc’s holdings in Quanta Services were worth $7,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Swedbank AB grew its stake in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after buying an additional 11,565 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. 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 price target for the company. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Performance

NYSE:PWR opened at $292.04 on Thursday. The company has a market capitalization of $43.11 billion, a P/E ratio of 53.88, a P/E/G ratio of 1.43 and a beta of 1.05. The business has a fifty day simple moving average of $318.48 and a two-hundred day simple moving average of $305.14. 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, Inc. has a 1 year low of $206.58 and a 1 year high of $365.88.

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.