Quanta Services, Inc. (NYSE:PWR) Shares Sold by Geneva Partners LLC

Geneva Partners LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 44.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467 shares of the construction company’s stock after selling 2,769 shares during the quarter. Geneva Partners LLC’s holdings in Quanta Services were worth $1,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the third quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the third quarter worth $31,000. Sound Income Strategies LLC boosted its stake in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during 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 worth $37,000 after acquiring an additional 45 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Robert W. Baird raised their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Price Performance

Shares of PWR opened at $298.50 on Thursday. The stock has a 50 day simple moving average of $325.93 and a 200 day simple moving average of $302.22. Quanta Services, Inc. has a 52-week low of $200.23 and a 52-week high of $365.88. The firm has a market capitalization of $44.06 billion, a PE ratio of 55.07, a P/E/G ratio of 1.54 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 announced 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 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Quanta Services Company 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.