New Mexico Educational Retirement Board Sells 100 Shares of Quanta Services, Inc. (NYSE:PWR)

New Mexico Educational Retirement Board trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 7,032 shares of the construction company’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Quanta Services were worth $2,222,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PWR. Creative Planning lifted its stake in shares of Quanta Services by 7.5% in the 3rd quarter. Creative Planning now owns 22,262 shares of the construction company’s stock valued at $6,637,000 after acquiring an additional 1,562 shares during the last quarter. Swedbank AB lifted its stake in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Quanta Services by 1.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,946 shares of the construction company’s stock valued at $2,071,000 after acquiring an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Quanta Services by 18.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,424 shares of the construction company’s stock valued at $8,773,000 after acquiring an additional 4,630 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new position in Quanta Services during the 3rd quarter worth $357,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PWR shares. BMO Capital Markets started coverage on Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price for the company. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, 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 target price for the company. Four research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Performance

Shares of PWR opened at $285.13 on Friday. The company has a market cap of $42.09 billion, a PE ratio of 52.61, a P/E/G 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 one year low of $206.58 and a one year high of $365.88. The stock has a 50-day moving average of $320.72 and a 200-day moving average of $304.42.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

Quanta Services 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.