Zevenbergen Capital Investments LLC Invests $30.90 Million in Quanta Services, Inc. (NYSE:PWR)

Zevenbergen Capital Investments LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 97,765 shares of the construction company’s stock, valued at approximately $30,899,000. Zevenbergen Capital Investments LLC owned about 0.07% of Quanta Services as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Corebridge Financial Inc. grew its holdings in Quanta Services by 0.4% during the fourth quarter. Corebridge Financial Inc. now owns 37,905 shares of the construction company’s stock valued at $11,980,000 after purchasing an additional 156 shares during the period. Emerald Advisers LLC bought a new position in Quanta Services in the 4th quarter worth $168,000. Vanguard Group Inc. grew its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Napatree Capital LLC purchased a new stake in Quanta Services in the 4th quarter worth $228,000. Finally, LPL Financial LLC grew its position in shares of Quanta Services by 24.8% during the fourth quarter. LPL Financial LLC now owns 200,147 shares of the construction company’s stock valued at $63,256,000 after purchasing an additional 39,764 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR opened at $268.43 on Monday. The business’s 50-day moving average is $289.30 and its two-hundred day moving average is $304.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market capitalization of $39.78 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.