Quanta Services, Inc. (NYSE:PWR) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,156 shares of the construction company’s stock after selling 138 shares during the quarter. Hartford Investment Management Co.’s holdings in Quanta Services were worth $2,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. lifted its stake in shares of 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 acquired a new position in Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the 3rd quarter valued at about $31,000. Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the 4th 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 last quarter. Finally, Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Finally, Robert W. Baird increased 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. Four research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $298.44 on Thursday. The company’s 50-day moving average price is $322.55 and its two-hundred day moving average price is $303.94. 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 $44.05 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 52 week low of $205.82 and a 52 week high of $365.88.

Quanta Services Increases Dividend

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

About Quanta Services

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.