Rhumbline Advisers Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Rhumbline Advisers decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,938 shares of the construction company’s stock after selling 4,177 shares during the quarter. Rhumbline Advisers owned about 0.21% of Quanta Services worth $97,956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Geneos Wealth Management Inc. boosted its stake in shares of Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after purchasing an additional 29 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC boosted its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PWR shares. BMO Capital Markets initiated coverage on shares of Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Finally, Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Trading Down 2.0 %

NYSE PWR opened at $285.13 on Friday. The company’s fifty day simple moving average is $320.72 and its 200-day simple moving average is $304.42. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $42.09 billion, a P/E ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued 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 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 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.