Louisiana State Employees Retirement System Has $2.50 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Louisiana State Employees Retirement System cut its stake in Quanta Services, Inc. (NYSE:PWR) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,900 shares of the construction company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Quanta Services were worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC increased its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares during the last quarter. Swedbank AB increased its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after buying an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Quanta Services by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock worth $253,063,000 after buying an additional 11,565 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PWR shares. BMO Capital Markets started coverage on shares of Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price on the stock. UBS Group increased their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Finally, 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 research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.50.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $290.94 on Friday. The firm has a fifty day moving average of $322.55 and a two-hundred day moving average of $303.94. The stock has a market capitalization of $42.95 billion, a price-to-earnings ratio of 53.68, a PEG ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. 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 Increases Dividend

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