Braun Stacey Associates Inc. Has $34.57 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Braun Stacey Associates Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 6.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 109,385 shares of the construction company’s stock after selling 7,247 shares during the period. Quanta Services comprises approximately 1.3% of Braun Stacey Associates Inc.’s holdings, making the stock its 20th largest holding. Braun Stacey Associates Inc.’s holdings in Quanta Services were worth $34,571,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Creative Planning boosted its position in Quanta Services by 7.5% during the third quarter. Creative Planning now owns 22,262 shares of the construction company’s stock valued at $6,637,000 after purchasing an additional 1,562 shares during the last quarter. Swedbank AB boosted its holdings in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of Quanta Services by 8.5% in the third quarter. Stratos Wealth Advisors LLC now owns 3,645 shares of the construction company’s stock valued at $1,087,000 after buying an additional 285 shares in the last quarter. Blue Trust Inc. increased its holdings in Quanta Services by 46.8% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the construction company’s stock worth $368,000 after buying an additional 394 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Quanta Services by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 338,430 shares of the construction company’s stock worth $100,903,000 after acquiring an additional 42,557 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on PWR shares. Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird increased their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $285.13 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market cap of $42.09 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a 50 day moving average of $319.99 and a 200-day moving average of $304.91. Quanta Services, Inc. has a 1-year low of $206.58 and a 1-year high of $365.88.

Quanta Services Increases Dividend

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