Geode Capital Management LLC Has $1.12 Billion Position in Quanta Services, Inc. (NYSE:PWR)

Geode Capital Management LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,558,827 shares of the construction company’s stock after acquiring an additional 99,416 shares during the period. Geode Capital Management LLC owned approximately 2.41% of Quanta Services worth $1,121,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC raised its stake in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after buying an additional 29 shares during the period. HB Wealth Management LLC lifted its holdings in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC grew its stake in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $257.64 on Wednesday. The company has a market cap of $38.18 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm has a 50-day moving average of $279.42 and a 200-day moving average of $304.87. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. 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 (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

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.