Atlantic Edge Private Wealth Management LLC Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Atlantic Edge Private Wealth Management LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,482 shares of the construction company’s stock after selling 108 shares during the quarter. Quanta Services comprises about 0.8% of Atlantic Edge Private Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. Atlantic Edge Private Wealth Management LLC’s holdings in Quanta Services were worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. Webster Bank N. A. raised its stake 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 buying an additional 81 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the third quarter valued at approximately $31,000. Sound Income Strategies LLC grew its holdings in shares of 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 buying an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.5 %

PWR stock opened at $310.83 on Tuesday. The firm has a fifty day moving average price of $324.00 and a 200 day moving average price of $303.66. Quanta Services, Inc. has a fifty-two week low of $205.82 and a fifty-two 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. The firm has a market cap of $45.88 billion, a PE ratio of 57.35, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. UBS Group lifted their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target 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.