Quanta Services, Inc. (NYSE:PWR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,451 shares of the construction company's stock after selling 10,664 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Quanta Services worth $40,281,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. State Street Corp lifted its stake in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC increased its holdings in Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after acquiring an additional 43,715 shares in the last quarter. Swedbank AB raised its stake in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after buying an additional 42,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock worth $253,063,000 after purchasing an additional 11,565 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PWR. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They issued an "outperform" rating and a $355.00 price target for the company. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating for the company. Finally, BMO Capital Markets began coverage on Quanta Services in a research report on Monday, February 3rd. They set an "outperform" rating and a $338.00 target price for the company. Four investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $330.50.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $4.45 during trading on Wednesday, hitting $292.04. 1,728,560 shares of the company's stock were exchanged, compared to its average volume of 1,460,901. The business has a 50-day simple moving average of $318.48 and a 200-day simple moving average of $305.14. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 53.88, a PEG ratio of 1.43 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $206.58 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services's dividend payout ratio is presently 7.38%.

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.