Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,490 shares of the construction company’s stock after selling 37 shares during the quarter. Cigna Investments Inc. New’s holdings in Quanta Services were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PWR. State Street Corp boosted its stake in shares of Quanta Services by 1.6% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 purchasing an additional 43,715 shares in the last quarter. Swedbank AB increased its position in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Quanta Services by 1.4% during the 3rd 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 period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $302.45 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $44.64 billion, a P/E ratio of 55.80, a PEG ratio of 1.56 and a beta of 1.05. The company has a 50-day moving average price of $323.25 and a 200 day moving average price of $303.98. Quanta Services, Inc. has a 12-month low of $205.82 and a 12-month high of $365.88.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given 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 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 presently 7.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. BMO Capital Markets began coverage on shares of Quanta Services in a research report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price target for the company. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Company 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.