Trust Point Inc. Acquires 436 Shares of Quanta Services, Inc. (NYSE:PWR)

Trust Point Inc. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,684 shares of the construction company’s stock after purchasing an additional 436 shares during the period. Quanta Services makes up 3.6% of Trust Point Inc.’s investment portfolio, making the stock its 5th biggest holding. Trust Point Inc. owned 0.11% of Quanta Services worth $52,048,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PWR. Jennison Associates LLC grew its stake in shares of Quanta Services by 0.4% during the fourth quarter. Jennison Associates LLC now owns 116,433 shares of the construction company’s stock valued at $36,799,000 after purchasing an additional 485 shares during the last quarter. Princeton Global Asset Management LLC raised its holdings in shares of Quanta Services by 5.8% during the 4th quarter. Princeton Global Asset Management LLC now owns 34,231 shares of the construction company’s stock worth $10,819,000 after buying an additional 1,870 shares in the last quarter. Chicago Capital LLC raised its holdings in shares of Quanta Services by 1.6% during the 4th quarter. Chicago Capital LLC now owns 49,682 shares of the construction company’s stock worth $15,702,000 after buying an additional 785 shares in the last quarter. KPP Advisory Services LLC grew its position in Quanta Services by 3.6% during the 4th quarter. KPP Advisory Services LLC now owns 4,762 shares of the construction company’s stock worth $1,505,000 after acquiring an additional 166 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in Quanta Services by 42.2% during the 4th quarter. CENTRAL TRUST Co now owns 1,658 shares of the construction company’s stock worth $524,000 after acquiring an additional 492 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $301.97 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $44.57 billion, a P/E ratio of 55.71, a PEG ratio of 1.54 and a beta of 1.05. The firm has a fifty day moving average of $327.77 and a 200-day moving average of $301.96. Quanta Services, Inc. has a 52-week low of $200.23 and a 52-week high of $365.88.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PWR. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

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.