Hartford Investment Management Co. Has $2.89 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Hartford Investment Management Co. decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,156 shares of the construction company’s stock after selling 138 shares during the period. Hartford Investment Management Co.’s holdings in Quanta Services were worth $2,894,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PWR. Alkeon Capital Management LLC grew its stake in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $46,364,000. International Assets Investment Management LLC grew its stake in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after buying an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. bought a new stake in Quanta Services during the third quarter worth approximately $27,430,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $298.44 on Thursday. The business has a fifty day simple moving average of $322.55 and a 200 day simple moving average of $303.94. 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 firm has a market capitalization 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, Inc. has a one year low of $205.82 and a one year high of $365.88.

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 dividend on an annualized basis and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PWR. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus upped their target price on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.50.

About Quanta Services

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.