Quanta Services, Inc. (NYSE:PWR) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 58.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,053 shares of the construction company’s stock after selling 1,459 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Quanta Services were worth $333,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after buying an additional 43,715 shares during the period. Swedbank AB boosted its holdings 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 buying an additional 42,579 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after purchasing an additional 11,565 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup cut their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. 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 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Down 2.0 %

NYSE PWR opened at $285.13 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company’s 50 day simple moving average is $320.72 and its 200 day simple moving average is $304.69. Quanta Services, Inc. has a 12 month low of $206.58 and a 12 month high of $365.88. The company has a market capitalization 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 firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. 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%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 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.