Rhumbline Advisers reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,938 shares of the construction company's stock after selling 4,177 shares during the period. Rhumbline Advisers owned approximately 0.21% of Quanta Services worth $97,956,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Alkeon Capital Management LLC boosted its holdings in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Quanta Services during the 4th quarter valued at approximately $46,364,000. International Assets Investment Management LLC increased its stake in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock worth $44,269,000 after buying an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock worth $83,210,000 after purchasing an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new position in shares of Quanta Services during the third quarter worth $27,430,000. Institutional investors own 90.49% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on PWR shares. Stifel Nicolaus lifted their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, BMO Capital Markets began coverage on shares of Quanta Services in a report on Monday, February 3rd. They issued an "outperform" rating and a $338.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fifteen 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 $330.50.
Get Our Latest Research Report on PWR
Quanta Services Price Performance
Shares of NYSE:PWR traded up $4.45 during midday trading on Wednesday, reaching $292.04. 1,728,384 shares of the company's stock traded hands, compared to its average volume of 1,460,892. The company has a fifty day simple moving average of $319.99 and a two-hundred day simple moving average of $304.91. Quanta Services, Inc. has a 1 year low of $206.58 and a 1 year high of $365.88. The company has a market cap of $43.11 billion, a P/E ratio of 53.88, a PEG ratio of 1.43 and a beta of 1.05. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.10 dividend. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's dividend payout ratio is currently 7.38%.
About Quanta Services
(
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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