Chevy Chase Trust Holdings LLC Reduces Position in Quanta Services, Inc. (NYSE:PWR)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 77,747 shares of the construction company’s stock after selling 1,533 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Quanta Services were worth $24,572,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Finally, Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $285.13 on Friday. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year 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 business has a fifty day moving average price of $320.72 and a 200-day moving average price of $304.05. The company has a market capitalization of $42.09 billion, a PE ratio of 52.61, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.14%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 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.