Retirement Systems of Alabama Grows Stock Position in Quanta Services, Inc. (NYSE:PWR)

Retirement Systems of Alabama increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,067 shares of the construction company’s stock after buying an additional 47 shares during the period. Retirement Systems of Alabama’s holdings in Quanta Services were worth $8,331,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PWR. Artisan Partners Limited Partnership boosted its position in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after acquiring an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $335,777,000. Public Employees Retirement Association of Colorado boosted its holdings in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after purchasing an additional 1,052,496 shares during the period. Nordea Investment Management AB boosted its holdings in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the period. Finally, Capital World Investors boosted its holdings in shares of Quanta Services by 11.6% during the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after acquiring an additional 624,545 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR traded down $2.07 during trading hours on Friday, hitting $252.53. 637,802 shares of the stock were exchanged, compared to its average volume of 937,369. 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 quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $36.97 billion, a PE ratio of 49.34 and a beta of 1.03. The company’s fifty day simple moving average is $268.77 and its two-hundred day simple moving average is $241.63.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PWR. Argus boosted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. B. Riley lifted their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird raised their target price on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Evercore ISI raised their target price on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

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.