Quanta Services, Inc. (NYSE:PWR) Position Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,900 shares of the construction company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Quanta Services were worth $2,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versor Investments LP bought a new position in Quanta Services in the 3rd quarter worth approximately $406,000. Principal Financial Group Inc. boosted its stake in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% during 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 in the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

PWR opened at $290.94 on Friday. The stock has a fifty day moving average of $322.55 and a 200-day moving average of $303.94. The firm has a market capitalization of $42.95 billion, a P/E ratio of 53.68, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $206.58 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This is an increase 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 0.14%. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PWR shares. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Citigroup decreased their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Finally, Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.