Leavell Investment Management Inc. raised its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,332 shares of the construction company's stock after acquiring an additional 1,400 shares during the quarter. Leavell Investment Management Inc.'s holdings in Quanta Services were worth $4,214,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. increased its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter valued at $31,000. Sound Income Strategies LLC increased its position in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after buying an additional 45 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
Quanta Services Stock Performance
Shares of Quanta Services stock traded down $5.73 during midday trading on Friday, hitting $285.13. The company had a trading volume of 2,091,815 shares, compared to its average volume of 1,513,889. The stock has a market cap of $42.09 billion, a PE ratio of 52.61, a P/E/G ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year high of $365.88. The business's 50 day simple moving average is $320.72 and its two-hundred day simple moving average is $304.42.
Quanta Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services's payout ratio is presently 7.38%.
Analyst Upgrades and Downgrades
Several research firms recently commented on PWR. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Daiwa America upgraded Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. Finally, Bank of America assumed coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $330.50.
View Our Latest Research Report on PWR
About Quanta Services
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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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