Quanta Services, Inc. (NYSE:PWR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 258,851 shares of the construction company’s stock after selling 79,579 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Quanta Services were worth $81,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. Webster Bank N. A. lifted its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter worth approximately $31,000. Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the 4th 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 in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. UBS Group boosted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup decreased their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Four 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Trading Down 1.4 %

Quanta Services stock opened at $298.44 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $205.82 and a 12 month high of $365.88. The company’s fifty day simple moving average is $322.55 and its 200-day simple moving average is $303.94. The stock has a market cap of $44.05 billion, a P/E ratio of 55.06, a P/E/G ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 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.