By otakuyassine3@gmail.com 
State of Alaska Department of Revenue cut its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,832 shares of the construction company’s stock after selling 3,530 shares during the period. State of Alaska Department of Revenue’s holdings in Quanta Services were worth $5,319,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Quanta Services by 20.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,859 shares of the construction company’s stock valued at $8,308,000 after buying an additional 4,390 shares during the period. Hager Investment Management Services LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $2,032,000. Stratos Wealth Partners LTD. grew its holdings in Quanta Services by 1.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 28,190 shares of the construction company’s stock worth $8,910,000 after acquiring an additional 470 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Quanta Services by 9.8% in the 4th quarter. Yousif Capital Management LLC now owns 20,838 shares of the construction company’s stock valued at $6,586,000 after purchasing an additional 1,854 shares during the last quarter. Finally, E. Ohman J or Asset Management AB raised its holdings in shares of Quanta Services by 18.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,530 shares of the construction company’s stock valued at $2,064,000 after purchasing an additional 1,000 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PWR has been the subject of a number of analyst reports. Citigroup lowered their target price 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 increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets started coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $330.50.
Read Our Latest Stock Analysis on Quanta Services
Quanta Services Trading Up 0.4 %
Shares of PWR stock opened at $312.44 on Friday. The company has a market capitalization of $46.12 billion, a P/E ratio of 57.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. 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 business’s 50 day moving average is $325.27 and its two-hundred day moving average is $302.28. Quanta Services, Inc. has a twelve month low of $205.82 and a twelve month high of $365.88.
Quanta Services Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. 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 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.
About Quanta Services
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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