Apollon Wealth Management LLC Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Apollon Wealth Management LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,740 shares of the construction company’s stock after selling 332 shares during the quarter. Apollon Wealth Management LLC’s holdings in Quanta Services were worth $1,814,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PWR. Atomi Financial Group Inc. purchased a new stake in shares of Quanta Services during the third quarter worth $220,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Quanta Services by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the construction company’s stock worth $238,000 after acquiring an additional 600 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in Quanta Services by 10.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,656 shares of the construction company’s stock valued at $792,000 after acquiring an additional 241 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Quanta Services by 2.5% in the 3rd quarter. Ritholtz Wealth Management now owns 4,168 shares of the construction company’s stock worth $1,243,000 after purchasing an additional 100 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Quanta Services by 65.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,427 shares of the construction company’s stock worth $3,705,000 after purchasing an additional 4,906 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. BMO Capital Markets started coverage on shares of Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target on the stock. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus raised their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Down 0.5 %

Shares of PWR opened at $310.83 on Tuesday. The company’s 50-day simple moving average is $324.00 and its 200-day simple moving average is $303.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 1 year low of $205.82 and a 1 year high of $365.88. The stock has a market capitalization of $45.88 billion, a PE ratio of 57.35, a P/E/G ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 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.