New York State Teachers Retirement System trimmed its holdings in shares of Quanta Services Inc (NYSE:PWR) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,969 shares of the construction company’s stock after selling 16,072 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of Quanta Services worth $8,126,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PWR. Private Capital Group LLC raised its stake in shares of Quanta Services by 79.6% during the 4th quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after buying an additional 749 shares during the period. Federated Investors Inc. PA raised its stake in shares of Quanta Services by 83.9% during the 3rd quarter. Federated Investors Inc. PA now owns 3,203 shares of the construction company’s stock worth $107,000 after buying an additional 1,461 shares during the period. CKW Financial Group acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $142,000. Rampart Investment Management Company LLC raised its stake in shares of Quanta Services by 217.6% during the 3rd quarter. Rampart Investment Management Company LLC now owns 4,990 shares of the construction company’s stock worth $167,000 after buying an additional 3,419 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Quanta Services by 87.4% during the 3rd quarter. Captrust Financial Advisors now owns 5,719 shares of the construction company’s stock worth $191,000 after buying an additional 2,667 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Derrick A. Jensen acquired 8,560 shares of Quanta Services stock in a transaction that occurred on Wednesday, December 19th. The stock was purchased at an average cost of $29.11 per share, with a total value of $249,181.60. Following the purchase, the chief financial officer now owns 250,603 shares in the company, valued at $7,295,053.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vincent D. Foster acquired 9,000 shares of Quanta Services stock in a transaction that occurred on Friday, December 28th. The stock was purchased at an average cost of $29.99 per share, with a total value of $269,910.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 52,060 shares of company stock valued at $1,538,702. 0.74% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on PWR. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup reduced their price objective on Quanta Services from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Robert W. Baird reduced their price objective on Quanta Services from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.25.
NYSE PWR opened at $34.62 on Wednesday. Quanta Services Inc has a one year low of $27.90 and a one year high of $37.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.81. The firm has a market capitalization of $5.06 billion, a P/E ratio of 19.45, a PEG ratio of 1.45 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 16th. Investors of record on Wednesday, January 2nd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, December 31st. Quanta Services’s dividend payout ratio is currently 8.99%.
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Quanta Services Profile
Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.
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