Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,490 shares of the construction company’s stock after selling 37 shares during the period. Cigna Investments Inc. New’s holdings in Quanta Services were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alkeon Capital Management LLC boosted its holdings in 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 period. Union Bancaire Privee UBP SA purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $46,364,000. International Assets Investment Management LLC grew its holdings in shares of Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after buying an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new stake in Quanta Services during the 3rd quarter worth approximately $27,430,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $302.45 on Wednesday. The firm has a fifty day moving average price of $323.25 and a 200 day moving average price of $303.98. The stock has a market cap of $44.64 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $205.82 and a 1-year high of $365.88. 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 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 given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted 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. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.50.

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.