Tectonic Advisors LLC Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Tectonic Advisors LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,368 shares of the construction company’s stock after selling 97 shares during the quarter. Tectonic Advisors LLC’s holdings in Quanta Services were worth $1,065,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Versor Investments LP acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $406,000. Principal Financial Group Inc. grew its holdings in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $2,715,000. Synovus Financial Corp grew its stake in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted 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. 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 target price on the stock. Finally, TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Price Performance

NYSE PWR opened at $298.50 on Thursday. Quanta Services, Inc. has a 12 month low of $200.23 and a 12 month high of $365.88. 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 $325.93 and its 200 day simple moving average is $302.22. The firm has a market capitalization of $44.06 billion, a PE ratio of 55.07, a P/E/G ratio of 1.54 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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is currently 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.