Congress Asset Management Co. Has $14.77 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Congress Asset Management Co. reduced its position in Quanta Services, Inc. (NYSE:PWR) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,742 shares of the construction company’s stock after selling 351 shares during the period. Congress Asset Management Co.’s holdings in Quanta Services were worth $14,773,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% in the 4th 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. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter valued at about $30,000. Sound Income Strategies LLC raised its holdings in Quanta Services by 700.0% in 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 period. Finally, Versant Capital Management Inc raised its holdings in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $285.13 on Monday. The company’s 50 day simple moving average is $320.72 and its 200 day simple moving average is $304.69. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. 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, Inc. has a 1 year low of $206.58 and a 1 year high of $365.88.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. 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 price target on the stock. Finally, UBS Group raised their target price 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. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

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.