Quanta Services, Inc. (NYSE:PWR) Shares Sold by Csenge Advisory Group

Csenge Advisory Group lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,673 shares of the construction company’s stock after selling 166 shares during the quarter. Csenge Advisory Group’s holdings in Quanta Services were worth $1,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Alkeon Capital Management LLC raised its stake in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services during the 4th quarter worth about $46,364,000. International Assets Investment Management LLC increased its position in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board increased its position in Quanta Services by 81.7% during the 3rd 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 in the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in Quanta Services during the 3rd quarter worth about $27,430,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PWR shares. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Performance

Quanta Services stock opened at $285.13 on Monday. The stock’s 50 day moving average price is $320.72 and its 200 day moving average price is $304.69. The firm has a market capitalization 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 debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a one year low of $206.58 and a one year high of $365.88.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 7.38%.

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.