WASHINGTON TRUST Co decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 55,021 shares of the construction company's stock after selling 1,281 shares during the period. WASHINGTON TRUST Co's holdings in Quanta Services were worth $17,389,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the business. Versor Investments LP bought a new position in Quanta Services in the third quarter valued at approximately $406,000. Kestra Private Wealth Services LLC raised its position in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp raised its holdings in shares of Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock valued at $2,148,000 after purchasing an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd grew its holdings in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock worth $12,509,000 after purchasing an additional 2,557 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Trading Up 1.5 %
Shares of PWR stock traded up $4.45 on Wednesday, hitting $292.04. The company had a trading volume of 1,728,560 shares, compared to its average volume of 1,460,901. The firm has a market cap of $43.11 billion, a P/E ratio of 53.88, a P/E/G ratio of 1.43 and a beta of 1.05. The stock's 50-day moving average is $318.48 and its two-hundred day moving average is $305.14. 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, Inc. has a twelve month low of $206.58 and a twelve month high of $365.88.
Quanta Services Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.14%. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is presently 7.38%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PWR shares. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating for the company. Northland Securities reiterated an "outperform" rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $330.50.
View Our Latest Report on PWR
Quanta Services Company Profile
(
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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