Cantor Fitzgerald Investment Advisors L.P. Sells 135 Shares of Quanta Services, Inc. (NYSE:PWR)

Cantor Fitzgerald Investment Advisors L.P. lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,152 shares of the construction company’s stock after selling 135 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Quanta Services were worth $2,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services during the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Finally, Versant Capital Management Inc raised its position in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PWR. Citigroup decreased their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. BMO Capital Markets began coverage on Quanta Services in a research note on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective on the stock. Finally, TD Cowen lifted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Trading Up 0.4 %

Shares of Quanta Services stock opened at $312.44 on Friday. The business has a fifty day simple moving average of $325.27 and a 200-day simple moving average of $302.28. The firm has a market cap of $46.12 billion, a price-to-earnings ratio of 57.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a fifty-two week low of $205.82 and a fifty-two week high of $365.88.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. 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.