CIBC Private Wealth Group LLC Has $651,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

CIBC Private Wealth Group LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,017 shares of the construction company’s stock after acquiring an additional 427 shares during the period. CIBC Private Wealth Group LLC’s holdings in Quanta Services were worth $651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Valley National Advisers Inc. bought a new stake in Quanta Services in the 4th quarter worth about $41,000. Vestor Capital LLC bought a new stake in Quanta Services in the 4th quarter worth about $42,000. Planned Solutions Inc. bought a new stake in Quanta Services in the 4th quarter worth about $43,000. Finally, VisionPoint Advisory Group LLC grew its position in Quanta Services by 58.1% in the 4th quarter. VisionPoint Advisory Group LLC now owns 215 shares of the construction company’s stock worth $46,000 after purchasing an additional 79 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. 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 increased their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Read Our Latest Report on Quanta Services

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $271.57 on Tuesday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market capitalization of $39.75 billion, a PE ratio of 52.63 and a beta of 1.05. The company’s 50 day simple moving average is $263.57 and its two-hundred day simple moving average is $233.08.

Quanta Services (NYSE:PWRGet Free Report) last posted its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Analysts predict that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

About Quanta Services

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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