TFC Financial Management Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

TFC Financial Management Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 20.4% during the 4th quarter, HoldingsChannel reports. The firm owned 203 shares of the construction company’s stock after selling 52 shares during the period. TFC Financial Management Inc.’s holdings in Quanta Services were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP bought a new position in Quanta Services in the third quarter worth approximately $406,000. Principal Financial Group Inc. raised its position in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp raised its position in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 1,830 shares during the period. Waverton Investment Management Ltd raised its position in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Quanta Services in the third quarter worth approximately $1,193,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets initiated coverage on shares of Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective on the stock. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Trading Down 1.4 %

NYSE PWR 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. The firm has a market cap of $44.05 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a 50 day moving average price of $322.55 and a 200 day moving average price of $303.94. Quanta Services, Inc. has a 52 week low of $205.82 and a 52 week high of $365.88.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. 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. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 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.