California Public Employees Retirement System Sells 13,779 Shares of Quanta Services, Inc. (NYSE:PWR)

California Public Employees Retirement System lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 235,663 shares of the construction company’s stock after selling 13,779 shares during the period. California Public Employees Retirement System’s holdings in Quanta Services were worth $74,481,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PWR. Dorsey Wright & Associates boosted its position in Quanta Services by 4.1% in the fourth quarter. Dorsey Wright & Associates now owns 21,468 shares of the construction company’s stock worth $6,785,000 after purchasing an additional 836 shares during the last quarter. L & S Advisors Inc purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $2,443,000. Allstate Corp bought a new stake in Quanta Services during the fourth quarter valued at approximately $1,357,000. Brown Brothers Harriman & Co. increased its holdings in Quanta Services by 0.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 6,214 shares of the construction company’s stock valued at $1,964,000 after buying an additional 52 shares during the last quarter. Finally, DnB Asset Management AS raised its position in Quanta Services by 4.3% in the fourth quarter. DnB Asset Management AS now owns 52,393 shares of the construction company’s stock worth $16,559,000 after acquiring an additional 2,145 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Price Performance

NYSE:PWR opened at $254.76 on Tuesday. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The stock’s fifty day moving average is $281.43 and its two-hundred day moving average is $304.95. The company has a market capitalization of $37.75 billion, a P/E ratio of 42.25, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

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.