Axxcess Wealth Management LLC decreased its position in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,081 shares of the construction company’s stock after selling 1,005 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Quanta Services were worth $386,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Aaron Wealth Advisors LLC acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $143,000. State of Alaska Department of Revenue boosted its position in Quanta Services by 2.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 20,640 shares of the construction company’s stock valued at $2,587,000 after purchasing an additional 575 shares during the period. Wolverine Asset Management LLC acquired a new position in Quanta Services during the 2nd quarter valued at approximately $1,504,000. Krane Funds Advisors LLC acquired a new position in Quanta Services during the 1st quarter valued at approximately $81,000. Finally, Sit Investment Associates Inc. boosted its position in Quanta Services by 6.7% during the 1st quarter. Sit Investment Associates Inc. now owns 1,510 shares of the construction company’s stock valued at $199,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Quanta Services to $170.00 in a research report on Monday. StockNews.com assumed coverage on Quanta Services in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Cowen boosted their price objective on Quanta Services from $145.00 to $155.00 in a research report on Thursday, August 11th. Argus lifted their target price on Quanta Services from $154.00 to $162.00 in a research note on Friday, September 9th. Finally, Cowen lifted their target price on Quanta Services from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.33.
Quanta Services Stock Down 1.1 %
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date was Friday, September 30th. Quanta Services’s dividend payout ratio (DPR) is presently 9.56%.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
- Get a free copy of the StockNews.com research report on Quanta Services (PWR)
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