Bleakley Financial Group LLC Has $2.07 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Bleakley Financial Group LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,556 shares of the construction company’s stock after selling 390 shares during the period. Bleakley Financial Group LLC’s holdings in Quanta Services were worth $2,072,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares in the last quarter. Commonwealth Financial Services LLC raised its holdings in Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC boosted its position in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its stake in Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after purchasing an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PWR shares. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Performance

NYSE:PWR opened at $312.44 on Friday. 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 fifty-two week low of $205.82 and a fifty-two week high of $365.88. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 57.65, a PEG ratio of 1.54 and a beta of 1.05. The stock has a fifty day moving average price of $325.27 and a 200-day moving average price of $302.28.

Quanta Services Increases Dividend

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