SFE Investment Counsel Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel reduced its position in Quanta Services, Inc. (NYSE:PWR) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,352 shares of the construction company’s stock after selling 832 shares during the period. SFE Investment Counsel’s holdings in Quanta Services were worth $2,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. boosted its position in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter valued at $31,000. Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets started coverage on Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price for the company. Robert W. Baird raised 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. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. UBS Group boosted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Price Performance

PWR opened at $298.44 on Thursday. 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 $205.82 and a 1 year high of $365.88. The stock’s 50 day simple moving average is $322.55 and its 200 day simple moving average is $303.94. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.